Calculating Annuity Cash Flows If you put up $28,000 today in exchange for a 8.25 percent, 15-

Question:

Calculating Annuity Cash Flows If you put up $28,000 today in exchange for a 8.25 percent, 15- year annuity, what will the annual cash flow be?

Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...