SOLUTION: Suppose that an annuity will provide for 20 annual payments of 1260 dollars, with the first payment coming 9 years from now. If the nominal rate of interest is 8.6 percent converti
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Question 1201538: Suppose that an annuity will provide for 20 annual payments of 1260 dollars, with the first payment coming 9 years from now. If the nominal rate of interest is 8.6 percent convertible monthly, what is the present value of the annuity?
Answer =
dollars.
You can put this solution on YOUR website! I am not 100% certain that this is correct. I am not sure if the exponent of 20 is correct since the first payment is in 9 years.
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