Asked by Synthia

Our topic is about Annuity.An investment firm offers a 10-year,simply annuity with a guaranted rate of 6.85% compounded annually.How much should you pay so as to receive payments of 25,0000 pesos annually over the 10 period?
PLEASE show your solution.

Answers

Answered by Anonymous
Surely your text has the formula you need. I don't know it right off, but I'm sure you can look it up as quickly as I can.
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