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Carla Vista Co. is considering investing in an annuity contract that will return 529, 490 annually at the end of each year for 18 years.
Carla Vista Co. is considering investing in an annuity contract that will return 529, 490 annually at the end of each year for 18 years. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What amount should Carla Vista Co. pay for this investment if it earns an 4% return? (Round answer to 2 decimal places, e.g. 25.25.)
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