easy · CFA Level I quant
An investor deposits $2,500 at the start of each year for 5 years into an account earning 6%.
If the analyst forgets to switch the BA II Plus to BGN mode, the calculated future value will be:
- Higher than the actual value due to compounding frequency.
- Exactly equal to the annuity due value.
- Lower than the actual value by a factor of (1 + r).
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