Alex purchases an annuity that makes 15payments of 2100, Financial Management

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Alex purchases an annuity that makes 15payments of 2100

Alex purchases an annuity that makes 15payments of $2100. The first payment occurs one year from today, and each subsequent payment occurs two years after the preceding payment. The annual nominal interest rate convertible semiannually is 5%.

Calculate the present value of the annuity.

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Financial Management: Alex purchases an annuity that makes 15payments of 2100

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Financial Management: Alex purchases an annuity that makes 15payments of 2100

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