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

Question

1 Approved Answer

You are considering an annuity which costs $53200 today. The annuity pays $3900 a year. The rate of return is 4 percent. What is the

image text in transcribed

You are considering an annuity which costs $53200 today. The annuity pays $3900 a year. The rate of return is 4 percent. What is the length of the annuity time period? (Do not round intermediate calculations.) 18.75 years O 20.1 years O 11.10 years O 3579 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_2

Step: 3

blur-text-image_3

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

Trading And Exchanges Market Microstructure For Practitioners

Trading And Exchanges Market Microstructure For Practitioners

Authors: Larry Harris

1st Edition

0195144708, 978-0195144703

More Books

Students also viewed these Finance questions

Question

★★★★★
In the string-pull illustration in Figure 4.8, a sharp jerk on the bottom string results in the bottom string breaking. Does this occur because of the ball's weight or its mass? Figure 4.8

Answered: 1 week ago

Question

★★★★★
Design an NFA for: In a string of a ' s , b ' s and c ' s design an NFA that starts and ends with the same symbol

Answered: 1 week ago

Question

★★★★★
=+12. McDonalds spends millions of dollars each year on legal protection of its brand name, thereby preventing any unauthorized use of it. Explain what information this conveys to you as a consumer...

Answered: 1 week ago

Question

★★★★★
Sunburst sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Below is information relating to Sunburst's purchases of Xpert snowboards during September. During the same month, 116...

Answered: 1 week ago

Question

★★★★★
You are considering an annuity which costs $53200 today. The annuity pays $3900 a year. The rate of return is 4 percent. What is the length of the annuity time period? (Do not round intermediate...

Answered: 1 week ago

Question

★★★★★
research 5-7 current (within the last five years) academicjournal articles on emerging technologies and their potentialeducational applications.DO NOT use Google, Wikipedia, editorials, orblogs f 1...

Answered: 1 week ago

Question

★★★★★
Suppose you want to make a gauge chart on website traffic. This gauge chart was based on the following data: 1 2 B Website Traffic C D E F G Website Traffic 4 Range 5 Start 0 0.3 6 Weak 0.25 OK 0.3 8...

Answered: 1 week ago

Question

★★★★★
Explain a product or service for which the demand shifted over the past two years. Explain a product or service for which the supply shifted over the past two years. Describe what happened to the...

Answered: 1 week ago

Question

★★★★★
Please answer the third question. (KE2) One day while out on a space walk to repair your ship, you notice that you have forgotten to tie off your tether! You and the heavy wrench you are carrying are...

Answered: 1 week ago

Question

★★★★★
Does an increase in average income cause a shift of the demand curve for coffee or a movement along the demand curve? The estimated supply function for avocados is Q = 58 + 15p - 20 pf , where pf is...

Answered: 1 week ago

Question

★★★★★
Blackbird's small team of craftspersons focus on the production of some of the most high-quality guitars in music. In part, the company's superb reputation rests with the craftspersons' skills,...

Answered: 1 week ago

Previous Question Next Question