Question
Jay buys a 30-year annuity immediate with end of year payments of 8,000 for a price of P. He replaces his capital over 30 years
Jay buys a 30-year annuity immediate with end of year payments of 8,000 for a price of P. He replaces his capital over 30 years with a savings account, which pays AEIR 6%. His APY is 5%. Please find P. NO EXCEL OR ACTUARIAL CALCULATOR FORMULAS PLEASE. SHOW ALL WORK USING FINANCIAL MATH
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The Routledge Handbook Of Critical Finance Studies
Authors: Christian Borch, Robert Wosnitzer
1st Edition
1138079812, 978-1138079816
