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Pls help asap!!! At age 45 when the deferred payments from his current contract ends, all-star shortstop Alex Rodriguez plans to have $230 million in
Pls help asap!!!
At age 45 when the deferred payments from his current contract ends, all-star shortstop Alex Rodriguez plans to have $230 million in savings from his baseball playing days. He wants two things from his savings: a 40-year ordinary annuity and $500 million at age 60 in order to purchase majority ownership in his native Miami's Florida Marlins. How large can his annual annuity payment be based on this information and assuming his savings can earn 8% annually after age 45 ? $6,069,727 $5,620,118 $6,906,832 $6,395,215 Step by Step Solution
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