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Category > Accounting Posted 29 Apr 2017 My Price 2.00

At the beginning of each period for 10 years

At the beginning of each period for 10 years, Merl Agnes invests $500 semiannually at 6%. What is the cash value of this annuity due at the end of year 10? (Please use the following provided Table.) (Do not round intermediate calculations. Round your answer to the nearest cent.)

 

 

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Alpha Geek
(8)
Status NEW Posted 29 Apr 2017 10:04 AM My Price 2.00

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file 1493461762-Answer.docx preview (56 words )
A-----------t t-----------he -----------beg-----------inn-----------ing----------- of----------- ea-----------ch -----------per-----------iod----------- fo-----------r 1-----------0 y-----------ear-----------s, -----------Mer-----------l A-----------gne-----------s i-----------nve-----------sts----------- $5-----------00 -----------sem-----------ian-----------nua-----------lly----------- at----------- 6%-----------. W-----------hat----------- is----------- th-----------e c-----------ash----------- va-----------lue----------- of----------- th-----------is -----------ann-----------uit-----------y d-----------ue -----------at -----------the----------- en-----------d o-----------f y-----------ear----------- 10-----------? (-----------Ple-----------ase----------- us-----------e t-----------he -----------fol-----------low-----------ing----------- pr-----------ovi-----------ded----------- Ta-----------ble-----------.)Â----------- (D-----------o n-----------ot -----------rou-----------nd -----------int-----------erm-----------edi-----------ate----------- ca-----------lcu-----------lat-----------ion-----------s. -----------Rou-----------ndÂ----------- yo-----------ur -----------ans-----------wer----------- to----------- th-----------e n-----------ear-----------est----------- ce-----------nt.-----------) -----------Ans-----------wer----------- A-----------mou-----------nt=----------- A=-----------500----------- Pe-----------rio-----------d=n-----------=10-----------*2=-----------20 -----------sem-----------i-a-----------nnu-----------als----------- -----------Int-----------ere-----------st -----------Rat-----------e=n-----------=6/-----------2=3-----------% s-----------emi------------an-----------nua-----------l C-----------omp-----------oun-----------d V-----------alu-----------e o-----------f -----------
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