Solved: Leibniz sells you an annuity that pays 1500 every month, Basic Statistics

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Leibniz sells you an annuity that pays 1500 every month

Leibniz sells you an annuity that pays $1,500 every month from the end of September 2018 to the end of August 2022 with annual interest rate 7% compounded monthly. (round off all answers to two decimal places)

(a) What is the price of this annuity on Sept 1, 2018

(b) What is the price of this annuity on Jan 1, 2019

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Basic Statistics: Leibniz sells you an annuity that pays 1500 every month

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Basic Statistics: Leibniz sells you an annuity that pays 1500 every month

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