ANNUITY VALUES ON ANY DATE (a) Present values more than one period before the first payment date
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ANNUITY VALUES ON ANY DATE Example: Exactly 3 years from now is the first four 200 yearly payments for an annuityimmediate, with an effective 8% rate of interest. Find the present value of the annuity.
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ANNUITY VALUES ON ANY DATE (b) Accumulated values more than one period after the last payment date
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ANNUITY VALUES ON ANY DATE Example: For four years, an annuity pays 200 at the end of each year with an effective 8% rate of interest. Find the accumulated value of the annuity 3 years after the last payment.
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ANNUITY VALUES ON ANY DATE (c) Current values between the first and last payment dates
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ANNUITY VALUES ON ANY DATE Example: For 4 years, an annuity pays 200 at the end of each half-year with an 8% rate of interest convertible semiannually. Find the current value of the annuity immediately upon the fifth payment (middle of year 3).
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