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What is the present value of an annuity consisting of nine

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Problem 1: What is the future value of 9 quarterly payments of $381, with the first payment to occur three months from today, if the interest rate is 8% p.a.? (Don't forget to calculate the quarterly interest rate before using the annuity formula.)

Problem 2: What is the present value of an annuity consisting of 9 annual payments of $570, with the first payment to occur immediately, if the interest rate is 7% p.a.?

Reference no: EM132843779

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