Question
You just inherited some money, and a broker offers to sell you an annuity that pays $13,400 at the end of each year for 20
You just inherited some money, and a broker offers to sell you an annuity that pays $13,400 at the end of each year for 20 years. You could earn 4.0% on your money in other investments with equal risk. What is the most you should pay for the annuity?
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Banking And Finance Managing The Moral Dimension
Authors: James Lynch
1st Edition
1855731762, 978-1855731769
