Bernard McGhee has decided to establish an annuity due of $2,500 annually for 15 years at 7.2%

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Bernard McGhee has decided to establish an annuity due of $2,500 annually for 15 years at 7.2% annual interest. How much is the annuity due worth after two years? How much was invested? How much interest was earned?
Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...
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Business Math

ISBN: 978-0133011203

10th edition

Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble

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