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The annuity factor for an interest rate of 12% over an investment period of 10 years is 5.650. To receive annual income of $24,000 on
The annuity factor for an interest rate of 12% over an investment period of 10 years is 5.650. To receive annual income of $24,000 on those terms, what amount must be invested? a. $13,560 b. $135,600 c. $424,779 d. $4,247,788
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
17th Edition
032459237X, 978-0324592375
