Question
Dr. Garcia is thinking about retiring this year and has asked us if we want to buy her practice. She would like annual income of
Dr. Garcia is thinking about retiring this year and has asked us if we want to buy her practice. She would like annual income of $250,000 for the next 30 years. If we can put the purchase price in an annuity that earns 4 percent per year compounded annually, what is the purchase price necessary to guarantee her desired income?
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Personal Finance
Authors: Jack R. Kapoor, Les R. Dlabay, Robert J. Hughes, Melissa Hart
12th edition
1259720683, 978-1259720680
