Derek receives $2,600 from an investment at the beginning of every half-year for 17 years at 5.60% compounded monthly. a
Posted: Fri Mar 04, 2022 9:44 am
Derek receives $2,600 from an investment at the beginning of
every half-year for 17 years at 5.60% compounded monthly.
a. What type of annuity is this?
Option 1: Ordinary simple annuity
Option 2: Ordinary general annuity
Option 3: Simple annuity due
Option 4: General annuity due
b. How many payments are there in this
annuity?
Round up to the next payment
every half-year for 17 years at 5.60% compounded monthly.
a. What type of annuity is this?
Option 1: Ordinary simple annuity
Option 2: Ordinary general annuity
Option 3: Simple annuity due
Option 4: General annuity due
b. How many payments are there in this
annuity?
Round up to the next payment