November 30, 2015

Homework Help: algebra

Posted by beech on Tuesday, October 11, 2011 at 11:06am.

Suppose a retiree wants to buy an ordinary annuity that pays her $2,000 per month for 20 years. If the annuity earns interest at 3.5% interest compounded monthly, what is the present value of this annuity?

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