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Brief Exercise G-12 Sandhill Co. is considering investing in an annuity contract that will return $30,090 annually at the end of each year for 18
Brief Exercise G-12
Sandhill Co. is considering investing in an annuity contract that will return $30,090 annually at the end of each year for 18 years.
Click here to view the factor table.
(For calculation purposes, use 5 decimal places as displayed in the factor table provided.)
What amount should Sandhill Co. pay for this investment if it earns an 5% return?(Round answer to 2 decimal places, e.g. 25.25.)
Sandhill Co. should pay
$enter an amount to be paid in dollars rounded to 2 decimal places
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