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Ivanhoe Company is considering investing in an annuity contract that will return $29,000 annually at the end of each year for 14 years. Click here
Ivanhoe Company is considering investing in an annuity contract that will return $29,000 annually at the end of each year for 14 years. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What amount should Ivanhoe Company pay for this investment if it earns an 11% return? (Round answer to 2 decimal places, e.g. 25.25.)
Ivanhoe Company should pay | $enter an amount to be paid in dollars rounded to 2 decimal places |
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