An annuity purchased for $175,000 pays $4000 at the end of every quarter. How long will the
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An annuity purchased for $175,000 pays $4000 at the end of every quarter. How long will the payments continue if the funds earn 3% compounded semiannually?
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The purchase price equals the present value of the annuity payments discounted at the rate of ...View the full answer
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