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College Algebra in Context with Applications for the Managerial, Life, and Social Sciences 3rd Edition by Ronald J Harshbarger, Lisa Yocco
Edition 3ISBN: 032157060XCollege Algebra in Context with Applications for the Managerial, Life, and Social Sciences 3rd Edition by Ronald J Harshbarger, Lisa Yocco
Edition 3ISBN: 032157060X Exercise 60
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Step 1 of 2
If a payment of R dollars is to be made at the end of each period for n periods from an account that earns interest at a rate of i per period, then the account is an ordinary annuity, and the present value is
.
The present value of an annuity that will pay
at the end of each 6-month period for 12 years
Therefore
Step 2 of 2
College Algebra in Context with Applications for the Managerial, Life, and Social Sciences 3rd Edition by Ronald J Harshbarger, Lisa Yocco
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