Question: a. Find present value in annuity due N = 15 years, monthly payments Interest rate = 9%, compounded monthly PMT = 1000(0.09/12) FV = 1000

a.

Find present value in annuity due

N = 15 years, monthly payments

Interest rate = 9%, compounded monthly

PMT = 1000(0.09/12)

FV = 1000

Compute PV

Round to 2 decimal places

b.

Find interest rate in annuity due

N = 9 years, monthly payments, BGN

Interest rate compounded monthly

PV = 350,000

PMT = 5000

FV = 50,000

Compute annual interest rate (%)

Round to 4 decimal places

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