Question
--- Vimal just purchased an annuity that will pay him $24,000 a year for 25 years. He will receive the first payment today. Given a
--- Vimal just purchased an annuity that will pay him $24,000 a year for 25 years. He will receive the first payment today. Given a discount rate is 8.5 percent, how much did Vimal pay for the annuity? i keep getting different answers. please explain how you solved this. thanks
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Financial statements
Authors: Stephen Barrad
5th Edition
978-007802531, 9780324186383, 032418638X
