Question
Markis planning for his retirement this year. One option that has been presented to him is the purchase of an annuity that would provide a
Markis planning for his retirement this year. One option that has been presented to him is the purchase of an annuity that would provide a $45,000payment each year for the next18years.
Click here to view the factor table.
https://education.wiley.com/content/Davis_Managerial_Accounting_4e/media/simulations/pv_tables/Tables_App_9-1_9-2.pdf
Calculate how muchMarkshould be willing to pay for the annuity if he can invest his funds at14%.(For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to 0 decimal place, e.g. 58,971.)
Payment$
enter the payment in dollars rounded to 0 decimal places
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