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PLZ NO answers like this Let the price of the annuity be P 5%=((8000/6%*(1.06^30-1))/P)^(1/30)-1 =>P=8000/6%*(1.06^30-1)*1/1.05^30 =146338.2514 11. Jay buys a 30-year annuity immediate with end
PLZ NO answers like this
Let the price of the annuity be P
5%=((8000/6%*(1.06^30-1))/P)^(1/30)-1
=>P=8000/6%*(1.06^30-1)*1/1.05^30
=146338.2514
11. Jay buys a 30-year annuity immediate with end of year payments of 8,000 for a price of P. He replaces his capital over 30 years with a savings account, which pays AEIR 6%. His APY is 5%. Please find PStep by Step Solution
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Inflation Growth And International Finance
Authors: Alec Cairncross
1st Edition
113865308X, 978-1138653085
