A 15-year annuity of thirty $8,000 semiannual payments will begin 9 years from now, with...
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A 15-year annuity of thirty $8,000 semiannual payments will begin 9 years from now, with the first payment coming 9.5 years from now. a. If the discount rate is 11 percent compounded monthly, what is the value of this annuity 4 years from now? Value at Year 11 $ 114,649.53 $ 66,312.97 $114,649.53 $ 73,986.63 $ 12,213.18 $ 64,986.71 b. What is the current value of the annuity? Value today $ 42,793.66 $114,649.53 $ 47,745.69 $ 7,881.52 $ 41,937.78
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