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

Brief Exercise 6-12 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 $ Click if you would like to Show Work for this question: Qpen Show Work