Question:24.
A 10year annuity pays $1,600 per month, and payments are made at
the end of...
Question
24.
A 10year annuity pays $1,600 per month, and payments are made at
the end of...
24.
A 10year annuity pays $1,600 per month, and payments are made at
the end of each month. The interest rate is 9 percent compounded
monthly for first Six years and 7 percent compounded monthly
thereafter.
What is the present value of the annuity?
a. $1,533,343.05
b. $125,223.02
c. $155,579.28
d. $127,778.59
e. $130,334.16

27. What is the future value of $500 in 23 years assuming an
interest rate of 13 percent compounded semiannually?