Question
How much must be invested today in order to generate a five-year annual annuity of $5,370 per year, with the first payment one year from
How much must be invested today in order to generate a five-year annual annuity of $5,370 per year, with the first payment one year from today, at an interest rate of 3% ?
a. $24,593
b. $13,724.44
c. $7,863.21
d. $26,850
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Mathematical Control Theory And Finance
Authors: Andrey Sarychev, Albert Shiryaev, Manuel Guerra, Maria Do Rosário Grossinho
2008th Edition
3540695311, 978-3540695318
