An annuity providing a rate of return of 4.8% compounded monthly was purchased for $45,200. The annuity pays $402 at the each month. e. What will be the amount of the final payment? (Round your answer to the nearest cent.) Final payment $
An annuity providing a rate of return of 4.8% compounded monthly was purchased for $45,200. The annuity pays $402 at the each month. e. What will be the amount of the final payment? (Round your answer to the nearest cent.) Final payment $
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 24P
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