FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You are considering an annuity which costs $50700 today. The annuity pays $7500 a year. The rate of return Is 4 percent. What is the

image text in transcribed
You are considering an annuity which costs $50700 today. The annuity pays $7500 a year. The rate of return Is 4 percent. What is the length of the annuity time period? (Do not round Intermediate calculations.) 18.12 years 8.04 years O 6.10 years 9.87 years 0 14.87 years

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing And Assurance Services

Auditing And Assurance Services

Authors: William Messier, Steven Glover, Douglas Prawitt

6th International Edition

0071284664, 978-0071284660

More Books

Students also viewed these Accounting questions

Question

★★★★★
Describe the five key principles of effective corporate governance articulated in the 2010 report of the NYSE.

Answered: 1 week ago

Question

★★★★★
Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in...

Answered: 1 week ago

Question

★★★★★
17.6 John dies on 3 March 2017. Between 6 April 2016 and 3 March 2017, he has capital gains of 1,200 and capital losses of 15,400. His net gains in recent tax years (and the annual exemption for each...

Answered: 1 week ago

Question

★★★★★
A beautiful, full-color brochure arrived on Bill Cornwells desk describing the Benny Companys offsite training program and facilities in glowing terms; it showed happy users at PCs and professional...

Answered: 1 week ago

Question

★★★★★
8. Factors that influence dividend policy Dividend distribution decisions are complicated and involve the understanding of critical strategic factors that affect the policy and value of a firm. Thus,...

Answered: 1 week ago

Question

★★★★★
Computronium Interactive (CI)'s business model is to rent out computing time on its super computers. CI has two types of potential customers of equal number: 10 aca- demic and 10 business clients. CI...

Answered: 1 week ago

Question

★★★★★
Crystal wants life insurance that will diversify her financial portfolio and build wealth. She is searching for a policy that uses an investment method that has the potential to grow at a maximum...

Answered: 1 week ago

Question

★★★★★
Mention and explain the job description of Distribution and Exhibition do fast and need correct answer with good explanation

Answered: 1 week ago

Question

★★★★★
3. Assignment Task Question No 1 a) Which is better, an investment that earns 10% compounded quarterly, one that earns 9.95% compounded monthly, or one that earns 9.9% compounded continuously? b) The...

Answered: 1 week ago

Question

★★★★★
Please do a to c a) Figure 3.1 shows the light intensity on a screen behind a single slit. The slit width is 0.20 mm and the screen is 1.5 m behind the slit. What is the wavelength (in nm) of the...

Answered: 1 week ago

Question

★★★★★
On Nov 8 th , the 4 % , 3 0 - year U . S T - bond has quoted ( asked ) price 1 0 2 . 1 2 5 0 , it paid interest 6 2 days ago . What s the actual sale price? ( The bond pays interest every 1 8 2 days....

Answered: 1 week ago

Question

★★★★★
=+How long has the platform been established in the field? There are a number of monitoring and listening

Answered: 1 week ago

Question

★★★★★
=+What category does this metric represent?

Answered: 1 week ago

Question

★★★★★
=+services, and you should note how long they have been part of the community, how many resources they have, what clients they serve, and in which campaigns they have participated.

Answered: 1 week ago

Previous Question Next Question