Question
American General offers a 16-year annuity with a guaranteed rate of 5.17% compounded annually. How much should you pay for one of these annuities if
American General offers a 16-year annuity with a guaranteed rate of 5.17% compounded annually. How much should you pay for one of these annuities if you want to receive payments of $2000 annually over the 16 year period?
How much should a customer pay for this annuity?
$___________
(Round to the nearest cent.)
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Cases In Healthcare Finance
Authors: Louis C. Gapenski
3rd Edition
1567932444, 9781567932447
