Value of the annuity four years

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A 40 year annuity due has level annual payments of $1000 except for the m-th payment which is $2000. When using an annual effective interest rate of 5%, the value of the annuity four years after the first payment is $22,722.53 Find M.

Reference no: EM1391618

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Value of the annuity four years : A 40 year annuity due has level annual payments of $1000 except for the m-th payment which is $2000. When using an annual effective interest rate of 5%, the value of the annuity four years after the first payment is $22,722.53 Find M.

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