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Question

Is there any difference between the present values in parts (a) and (b)? Explain.

(a) An annuity due that pays $\$ 1000$ at the beginning of each year for $10$ years

(b) Taking $\$ 1000$ now and establishing an ordinary annuity that pays $\$ 1000$ at the end of each year for $9$ years

Solution

VerifiedAnswered 12 months ago

Answered 12 months ago

Step 1

1 of 7In this exercise, the task is to determine whether exists the difference between present values of an ordinary annuity and annuity due, considering the given information.

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