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Find the payment that should be used for the annuitydue whose future value is given....

Find the payment that should be used for the annuity due whose future value is given. Assume that the compounding period is the same as the payment period. $10,000, quarterly payments for 14 years, interest rate 9%

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Expert Solution

Future value of an annuity due:

FV = 10,000

r = 9%/4 = 0.0225

n = 14 * 4 = 56

jeff jeffy answered 2 years ago
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