What amount is needed to purchase an annuity paying $2500 at the end of every calendar quarter

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What amount is needed to purchase an annuity paying $2500 at the end of every calendar quarter for the next 25 years? Assume the funds used to purchase the annuity will earn 6% compounded quarterly.

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Fundamentals Of Business Mathematics In Canada

ISBN: 9781259370151

3rd Edition

Authors: F. Ernest Jerome, Jackie Shemko

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Question Posted: Oct 21, 2020 05:07 AM

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What amount is needed to purchase an annuity paying $2500 at the end of every calendar quarter

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Given i 8 15 PMT 2500 n 425 1...View the full answer

Fundamentals Of Business Mathematics In Canada

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