Question
Brianna purchases a retirement annuity that will pay her $1,500 at the end of every six months for the first ten years and $400 at
Brianna purchases a retirement annuity that will pay her $1,500 at the end of every six months for the first ten years and $400 at the end of every month for the next four years. The annuity earns interest at a rate of 3.2% compounded quarterly.
What was the purchase price of the annuity?
How much interest did Brianna receive from the annuity?
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Financial Modeling Using Excel And VBA
Authors: Chandan Sengupta
1st Edition
0471267686, 978-0471267683
