If the present value of an ordinary, 6-year annuity is $8,500 and interest rates are 9.5 percent,
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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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The present value of an annuity due formula practices the same method as ...View the full answer
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Related Book For 
Finance Applications and Theory
ISBN: 978-0077861681
3rd edition
Authors: Marcia Cornett, Troy Adair
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