Question
Assume that you own an annuity that will pay you $15,000 per year for 12 years, with the first payment being made today. You need
Assume that you own an annuity that will pay you $15,000 per year for 12 years, with the first payment being made today. You need money today to start a new business, and your uncle offers to give you $92,000 for the annuity. If you sell it, what rate of return would your uncle earn on his investment?
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Cost Benefit Analysis
Authors: Harry F. Campbell, Richard P.C. Brown
3rd Edition
1032320753, 9781032320755
