An annuity pays 100 at the end of 3 months, 125 at the end of 6 months,

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An annuity pays 100 at the end of 3 months, 125 at the end of 6 months, 150 at the end of 9 months, and so on until it makes a final payment at the end of 7 years.

The annual effective discount rate is 8%.

Calculate the future value of the annuity at the end of 7 years.

14,877

14,928

15,190

15,218

15,510

Related Book For answer-question

Corporate Finance A Focused Approach

ISBN: 978-1305637108

6th edition

Authors: Michael C. Ehrhardt, Eugene F. Brigham

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Posted Date: Feb 13, 2024 08:02 AM

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An annuity pays 100 at the end of 3 months, 125 at the end of 6 months,

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Corporate Finance A Focused Approach

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