Finance

Nancy Bellow promised her son she would pay him $600 a quarterly for four years.If Nancy can invest her money in a 6% ordinary annuity, how much would she need to invest today

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asked by Dell
  1. i = .06/4 = .015
    n = 4x4 = 16

    Present Value = 600( 1 - 1.015^-16)/.015
    = 8478.88

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    posted by Reiny

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