Calculate the future value of the annuity

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1. What is the present value of a five period annuity of $3000 if the interest rate is 12% and the first payment is made today? Also calculate the future value of the annuity.

2. You have borrowed 100,000 from the bank and have promised to pay in 5 equal annual payments. What will be your installment if bank will charge you 3.26% interest rate? According to the term of the loan the first payment is due today.

Reference no: EM131845176

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