Annuity is scheduled to make the payments
Financial Management
1) A 30-year annuity is scheduled to make the following payments: $1,000 at the end of each of the first 20 years, and then payments at the end of years 21 through 30 are each $1,000 greater than the previous deposit. (Thus, the payment at t = 21 is $2,000, at t = 22 is $3,0000, etc.) The annual effective interest rate is 12%. Find the present value of this annuity two years before the first payment.
2) A 10-year annuity makes payments at the end of each month. The first payment is $20,000, and thereafter each subsequent monthly payment is $100 less than the previous
