Question
You manage an investment fund that sells annuities. You sell a 8-year ordinary level annuity that makes monthly payments of $1,586 per month, starting next
You manage an investment fund that sells annuities. You sell a 8-year ordinary level annuity that makes monthly payments of $1,586 per month, starting next month. If interest rates are 2.04% APR (compounded monthly) what is the current price of this annuity?
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Personal Finance
Authors: Jack R Kapoor, Glencoe McGraw Hill, Les R Dlabay, Robert J Hughes
1st Edition
0078698006, 9780078698002
