Question
You have a chance to buy an annuity that pays $627 at the beginning of each month for 3 years. You could earn an annual
You have a chance to buy an annuity that pays $627 at the beginning of each month for 3 years. You could earn an annual rate of 11.7% on your money in other investments with equal risk. What is the most you should pay for the annuity now? (Round your answer to two decimal places of dollar)
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Financial Management In The Public Sector Tools Applications And Cases
Authors: Xiaohu Wang
2nd Edition
0765625229, 9780765625229
