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How do find the amount and the present value of an annuity

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Problem 1. Find the amount and the present value of an annuity of ?1,500 every 3 months for 5 years if money is worth 8% compounded quarterly.

Problem 2. Polly purchased a car. She paid ?150,000 as down payment and pays ?5,500 at the end of each month for 48 months. If the interest is 7.8% compounded monthly, how much was the car worth?

Reference no: EM132754678

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