Serena receives a fifty-year annuity-due that has payments that start at $2,000 and increase by 2.6% per year through the twenty-fourth payment, then stay level at $4,000. Find the accumulated value of this annuity at the end of fifty years if the annual effective rate of interest remains 6.3% throughout the time of the annuity.

Answer rating: 100% (QA)

To find the accumulated value of the annuity at the end of fifty years well break down the problem i... View the full answer