Question
You deposit $10,000 annually into a life insurance fund for the next 10 years, at which time you plan to retire. Instead of a lump
You deposit $10,000 annually into a life insurance fund for the next 10 years, at which time you plan to retire. Instead of a lump sum, you wish to receive annuities for the next 20 years. What is the annual payment you expect to receive beginning in year 11 if you assume an interest rate of 8 percent for the whole time period?
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Essentials Of Managerial Finance
Authors: Scott Besley, Eugene F. Brigham
12th Edition
0030258723, 9780030258725
