Question
You are being offered an annuity that pays $1,500 per year at the end of each year for 5 years. The interest rate for this
You are being offered an annuity that pays $1,500 per year at the end of each year for 5 years. The interest rate for this investment in 8% per year. What is the maximum amount you would be willing to pay for today?
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Risk Management And Financial Institutions
Authors: John C Hull
6th Edition
1119932483, 9781119932482
