Mathematics, 13.11.2019 07:31 wambold3
Lucy recieves a gift of a twenty-one year annuity on the day she was born. the annuity pays $500 on her odd birthday and $700 on even birthday. if the nominal rate of interest is 8% payable monthly, find the value of this annuity on the day she was born. $5,817.13
a few things have me stuck. if the year of her birth time 0 is odd or even. also, i understand i need to consider the interest for 2 years but how to get my monthly nominal to a two year rate. i just did 8% times 2.
Answers: 2
Lucy recieves a gift of a twenty-one year annuity on the day she was born. the annuity pays $500 on...
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