A 20-year annuity of forty $6,000 semiannual payments will begin 9 years from now, with...
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Finance
A 20-year annuity of forty $6,000 semiannual payments will begin 9 years from now, with the first payment coming 9.5 years from now.
Required : (a) If the discount rate is 8 percent compounded monthly, what is the value of this annuity 6 years from now? (b) What is the current value of the annuity?
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