Question
The Scott family wants to save money to travel the world. They plan to invest in an ordinary annuity that earns 4.8% interest, compounded annually.
The Scott family wants to save money to travel the world. They plan to invest in an ordinary annuity that earns 4.8% interest, compounded annually. Payments will be made at the end of each year. How much money do they need to pay into the annuity each year for the annuity to have a total value of 13,000 after 10years?
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Fundamentals of Investments Valuation and Management
Authors: Bradford Jordan, Thomas Miller
7th edition
978-0078096785, 78096782, 978-0077861636, 77861639, 978-0078115660
