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What is the size of the monthly payment he will? receive

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Problem 1: Aaron deposited? $900 every six months for twenty years into a fund paying? 5.5% compounded? semi-annually. Five years after the last deposit he converted the existing balance in the fund into an ordinary annuity paying him equal monthly payments for fifteen years. If interest on the annuity is? 6% compounded? monthly, what is the size of the monthly payment he will? receive?

Reference no: EM132940677

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