Find the payment that should be used for the annuity due whose future value is given. Assume that the compounding period is the same as

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 20E
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Find the payment that should be
used for the annuity due whose
future value is given. Assume that the
compounding period is the same as
the payment period. $168, 000;
monthly payments for 5 years;
interest rate 3% .
Transcribed Image Text:Find the payment that should be used for the annuity due whose future value is given. Assume that the compounding period is the same as the payment period. $168, 000; monthly payments for 5 years; interest rate 3% .
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