Reference no: EM131062796
A 15-year annuity pays $2,150 per month, and payments are made at the end of each month. If the interest rate is 9 percent compounded monthly for the first eight years, and 6 percent compounded monthly thereafter, what is the present value of the annuity? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Present Value =
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What is the present value of the annuity
: A 15-year annuity pays $2,150 per month, and payments are made at the end of each month. If the interest rate is 9 percent compounded monthly for the first eight years, and 6 percent compounded monthly thereafter, what is the present value of the ann..
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