Someone offers to sell you an annuity for $6,036 in 5 years (i.e., you will buy it
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Someone offers to sell you an annuity for $6,036 in 5 years (i.e., you will buy it at t=5). The annuity pays $2300 per year, for n years, starting in year 6, and we assume a 7.0% discount rate. About how many payments are included in the annuity in this situation?
Related Book For
Financial management theory and practice
ISBN: 978-0324422696
12th Edition
Authors: Eugene F. Brigham and Michael C. Ehrhardt
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