Question
eBook Problem 7-20 You are offered an annuity that will pay $11,000 a year for twelve years (that is, twelve payments), but the payments start
| eBook Problem 7-20 You are offered an annuity that will pay $11,000 a year for twelve years (that is, twelve payments), but the payments start after six years have elapsed. If you want to earn 7 percent on your funds, what is the maximum you should pay for this annuity? Use Appendix B and Appendix D to answer the question. Round your answer to the nearest dollar. $ |
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Mathematics Of Finance
Authors: Robert Brown, Steve Kopp, Petr Zima
8th Edition
0070876460, 978-0070876460
