QUESTION: Consider an annuity that pays $100 at the end of every month for three years....
QUESTION: Consider an annuity that pays $100 at the end of every month for three years. If the interest rate is 12% compounded quarterly (r4 = 12%), what is the present value of this annuity?
I am using an HP 10bii+ calculator. I'm getting stuck on the fact that the interest is compounded quarterly, but the payments are issued monthly.
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QUESTION: Consider an annuity that pays $100 at
the end of every month for three years....
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