# An annuity consists of quarterly payments of $950 for 8 years and 9 months. Discounting at 8%

## Question:

a. At the end of each quarter?

b. At the beginning of each quarter?

c. By what percentage does the answer to Part (b) exceed the answer to Part (a)?

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,...

Fantastic news! We've Found the answer you've been seeking!

## Step by Step Answer:

**Related Book For**