Homework Answers
The problem relates to tht Annuity Due.
Present Value of Annuity Due = 
r = 0.082 / 12 = 0.00683333333
n = 20 years * 12 = 240
= 
= $1186002.90
Bonus Tip : - Formula for Ordinary Annuity for Q 1 is as follows
r = 0.083/12 = 0.00691666666
n = 35 years * 12 = 420
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