Question
You just inherited some money, and a broker offers to sell you an annuity that pays $16,800 at the end of each year for 20
You just inherited some money, and a broker offers to sell you an annuity that pays $16,800 at the end of each year for 20 years. You could earn 5% on your money in other investments with equal risk. What is the most you should pay for the annuity?
- $180,054.02
- $236,582.60
- $209,365.13
- $244,957.21
- $255,425.46
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Succeeding in Business with Microsoft Excel 2013 A Problem Solving Approach
Authors: Debra Gross, Frank Akaiwa, Karleen Nordquist
1st edition
978-1285099149, 9781285963969, 1285099141, 1285963962, 978-1285715346
