Question 9 2 pts An investor pays P for an annuity which provides payments of...
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Question 9 2 pts An investor pays P for an annuity which provides payments of 140 at the beginning of each month for 20 years. These payments are invested at a nominal annual interest rate of 6.6% convertible monthly. Monthly interest payments are reinvested at a nominal annual interest rate of 5.4% convertible monthly. The annual yield rate over the 20-year period is 11% effective. Calculate P. [5.a-c #14] O 8,580 O 8,090 O 8,420 O 8,250 O 7,920 Question 9 2 pts An investor pays P for an annuity which provides payments of 140 at the beginning of each month for 20 years. These payments are invested at a nominal annual interest rate of 6.6% convertible monthly. Monthly interest payments are reinvested at a nominal annual interest rate of 5.4% convertible monthly. The annual yield rate over the 20-year period is 11% effective. Calculate P. [5.a-c #14] O 8,580 O 8,090 O 8,420 O 8,250 O 7,920
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