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What is the compounded quarterly

Problem: A water-skiing boat is purchased for $26,565 quarterly payments to be made for four years with interest at 8% per annum. What is the compounded quarterly?

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## Q : Present value of growing annuity versus ordinary annuity

City of Cincinnati gave up the right to collect parking fees over 30-year period in exchange for lump sum of $92 million plus a 30-year annuity of $3 million.