Vince has $24,000 to purchase an annuity that will provide him with payments of $800...
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Finance
Vince has $24,000 to purchase an annuity that will provide him with payments of $800 at the end of every three months. If the funds earn 7% compounded quarterly, how long will the payments continue? NOTE - DO NOT ROUND YOUR ANSWER to the nearest 3 month interval. Express your exact answer in YEARS and to TWO DECIMAL PLACES.
NOTE - DO NOT ROUND YOUR ANSWER to the nearest 3 month interval. Express your exact answer in YEARS and to TWO DECIMAL PLACES.
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