Question
Please show equations and steps 27. Assuming an interest rate of 7%, compute how much income you will have each month if you save $150
Please show equations and steps
27. Assuming an interest rate of 7%, compute how much income you will have each month if you save $150 each month for the next 40 years and then use the accumulated money to buy an annuity of equal monthly payments for 7 years (or an annuity for life when you expect to live for U more years).
28. Assuming an interest rate of 1.68%, compute how much income you will have each month if you save $150 each month for the next 40 years (and then retire) and then use the accumulated money to buy an annuity of equal monthly payments for 7 years (or an annuity for life when your life expectancy is U more years at that time).
29. Assuming an interest rate of 4.87%, compute how much income you will have each month if you save $150 each month for the next 40 years (and then retire) and then use the accumulated money to buy an annuity of equal monthly payments for 7 years (or an annuity for life when your life expectancy is U more years at that time).
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Trade Union Finance
Authors: Marick F. Masters, Raymond Gibney
1st Edition
1032371382, 978-1032371382
