Question
Jim deposits $14,000 annually into a life insurance fund for the next 10 years, at which time he plans to retire. Instead of a lump
Jim deposits $14,000 annually into a life insurance fund for the next 10 years, at which time he plans to retire. Instead of a lump sum, Jim wishes to receive annuities for the next 19 years. What is the annual payment he expects to receive beginning the year he retires if he assumes an interest rate of 6.3 percent for the whole time period?
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Foundations Of Real Estate Financial Modelling
Authors: Roger Staiger
2nd Edition
1138046183, 978-1138046184
