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I need expert answers using EXCEL or financial calculator. Thank you You have a chance to buy an annuity that pays $4,440 at the beginning.of
I need expert answers using EXCEL or financial calculator. Thank you
You have a chance to buy an annuity that pays $4,440 at the beginning.of each year for 6 years. You could earn 7% on your money in other investments with equal risk. What is the most you should pay for the annuity? (Hint: "the most you should pay" .... basically = "what is the price?" .... You would agree to pay a lower price than the fundamental (true) price. You would not, however, agree to pay any price above the true price, right?) *** Round your answer to the nearest three decimals if needed. Do not type the $ symbolStep by Step Solution
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