Find the payment that should be used for the annuity due whose future value is given....

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Find the payment that should be used for the annuity due whose future value is given....

Find the payment that should be used for the annuity due whose future value is given. Assume that the compounding period is the same as the payment period.

$21,000; quarterly payments for 16 years; interest rate 5.5%

math Statistics-And-Probability

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Answer 1

Answer #1

solution or P= 21,000 8=5.5% T 16 A = 21000(1+. 5.5 100 T = 16 years H=p (1+2) ° (1+ (A = 49460.51669) Total amount paid a= $

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Answer 2

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