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Find the present value of a ten-year annuity which pays $500 at the beginning of each...

Find the present value of a ten-year annuity which pays $500 at the beginning of each quarter for the first 4 years, and then $400 at the beginning of each quarter for the remain years. The annual effective interest rate is 7%. Round your answer to two decimal places

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Answer #1

в с р =((1+7%)^(1/4)-1)*4 6.82% 1 APR 2 3 $500 payments present value 4 $400 payment value at year 4 5 $400 payments present

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