Question: This doesn't seem to take into account that payments are made at the beginning of the year, making the formula for annuity due more appropriate

This doesn't seem to take into account that payments are made at the beginning of the year, making the formula for annuity due more appropriate than the formula for annuity immediate. As a result, my answer is different by one pay period. I just want to know if that was considered before changing my answer to reflect this answer.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!