No, no it's not missing.

correct answer is 11,806.30

1000 1000 100 H Annuity pays 1000 at end of each month 1. for n years. ope you 0 1 2 :12 (12)n (mos) He wishes to replace w/ annuity that S has only 1 payment at the beginning S of each year, for n years. X 1 X 2 + 0 1 2 1. If exchange is based off d = .03 quon omina Discount le - much the should payments X Find a. ke ? (2) Anurag receives an annuity that pays $1,000 at the end of each month H wishes to replace it with an annuity that has the same term and has only one payment each year, and that payment should be at the beginning of the vear How much should the payments be if the exchange is based on a nominal discount rate of 3% payable quarterly