Question
You paid $270,548.52, an annuity that pays you $1,000 per month for 30 years.What is the implied interest rate?If, instead of spending the $1,000.You invest
You paid $270,548.52, an annuity that pays you $1,000 per month for 30 years.What is the implied interest rate?If, instead of spending the $1,000.You invest all the payments you received as soon as you receive them in a bank account that pays you 1.75% annual interest rate.How much money would you have in the bank account at the end of 30 years?
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Personal Finance
Authors: Jack R. Kapoor, Les R. Dlabay, Robert J. Hughes, Melissa Hart
12th edition
1259720683, 978-1259720680
