An ordinary annuity selling at $8,860.53 today promises to make equal payments at the end of each year for the next six

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An ordinary annuity selling at $8,860.53 today promises to make equal payments at the end of each year for the next six

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An Ordinary Annuity Selling At 8 860 53 Today Promises To Make Equal Payments At The End Of Each Year For The Next Six 1
An Ordinary Annuity Selling At 8 860 53 Today Promises To Make Equal Payments At The End Of Each Year For The Next Six 1 (9.36 KiB) Viewed 68 times
An ordinary annuity selling at $8,860.53 today promises to make equal payments at the end of each year for the next six years (N). If the annuity's appropriate interest rate (1) remains at 8.00% during this time, the annual annuity payment (PMT) will be You just won the lottery. Congratulations! The jackpot is $10,000,000, paid in six equal annual payments. The first payment on the lottery jackpot will be made today. In present value terms, you really won -assuming annual interest rate of 8.00%.
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