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please show work Amanda receives an inheritance of $200,000 on 1/1/2000. She invests the inheritance into an annuity that pays $10,000 at the end of
please show work
Amanda receives an inheritance of $200,000 on 1/1/2000. She invests the inheritance into an annuity that pays $10,000 at the end of each year for 25 years. She takes 10% of this $10,000 each year and reinvests in her Uncle's actuarial consulting firm. Amanda's uncle agrees to pay Amanda a single amount on 1/1/2025 that was a return of principal and interest. Amanda's uncle calculated that he paid Amanda interest at an effective annual rate of 12% during the duration of the investment. What was the total amount Amanda's uncle paid Amanda up to and including 1/1/2025? 119,155 122,866 126,735 133,334 149,334 Step by Step Solution
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