An annuity purchased for $195,000 pays $6,000 at the end of every quarter. How long will the payments continue if the funds earn 5% compounded semiannually? (Do not round intermediate calculations and...


An annuity purchased for $195,000 pays $6,000 at the end of every quarter. How long will the payments continue if the funds earn 5% compounded semiannually? (Do not round intermediate calculations and round up the number of payments, n, to the next whole number.) It will be years/ months



Jun 11, 2022
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