Clair decided to set up a scholarship for college students. She deposited $1200 in an account...
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Clair decided to set up a scholarship for college students. She deposited $1200 in an account at the end of each year for 8 years. The AV of this anmuity will be used to buy a perpetuity that pays $600 at the end of each year for a deserving student (i.e. first payment at time 9). Both the account and the perpetuity are at the same effective annual rate of interest i Determine the value closest to i. Clair decided to set up a scholarship for college students. She deposited $1200 in an account at the end of each year for 8 years. The AV of this anmuity will be used to buy a perpetuity that pays $600 at the end of each year for a deserving student (i.e. first payment at time 9). Both the account and the perpetuity are at the same effective annual rate of interest i Determine the value closest to i.
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Related Book For
Finite Mathematics and Its Applications
ISBN: 978-0134768632
12th edition
Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair
Posted Date:
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