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How much would you have to invest today in the bank at an interest rate of B% to have an annuity of $6,000 per year
How much would you have to invest today in the bank at an interest rate of B% to have an annuity of $6,000 per year for 8 years, with nothing left in the bank at the end of the 8 years? Select the amount below that is closest to your answer. (Ignore income taxes) Use the selections from the present value tables below: Present Value of $1 Present Value of an Annuity of $1 Period 4% 8% Period 49 896 4 0.855 0.681 4 3.630 3.312 8 0.731 0.540 8 6.733 5.747 16 0.534 0.292 16 11.652 8.851 All answers are rounded to the nearest dollar $3,240 . $1,752 . $53,106 C. $34,482 D
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