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August 21, 2014

Homework Help: Math

Posted by Anonymous on Friday, November 11, 2011 at 4:36pm.

Ed long promised to pay is son $400 semiannually for 12 years. Assume Ed can invest his money at 6 % in an ordinary annuity. How much must Ed invest today to pay his son $400 semiannually for 12 years?

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