An annuity offers to pay you a cash payment of $650 at the end of each month for the next fifteen years. How much would
An annuity offers to pay you a cash payment of $650 at the end of each month for the next fifteen years. How much would you pay for the annuity if the appropriate discount rate is 4.80%, compounded monthly (i.e., the APR is 4.80%)? [Note: submit you answer to the nearest USA dollar without the dollar sign]
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Authors: Craig Furfine
1st Edition
036733304X, 978-0367333041
