Question
You have saved $44,000 for college and wish to use $12,000 peryear. If you use the money as an ordinary annuity and earn 5.15% onyour
You have saved $44,000 for college and wish to use $12,000 peryear. If you use the money as an ordinary annuity and earn 5.15% onyour investment, how many years will your annuity last? Use acalculator to determine your answer.
3.59 years
3.36 years
4.17 years
4.27 years
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Financial Theory and Corporate Policy
Authors: Thomas E. Copeland, J. Fred Weston, Kuldeep Shastri
4th edition
321127218, 978-0321179548, 321179544, 978-0321127211
