Question
You have a chance to buy an annuity that pays $15,000 at the end of each year with the number of years = 5 You
You have a chance to buy an annuity that pays $15,000 at the end of each year with the number of years = 5
You could earn 5.5% on your money in other investments with equal risk.
What is the most you should pay for the annuity?
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Public Finance A Contemporary Application Of Theory To Policy
Authors: David N Hyman
10th Edition
053875446X, 978-0538754460
