Question
You purchase an annuity investment that pays you a lump sum amount of $289,284 at the end of the term. You must make $20,000 quarterly
You purchase an annuity investment that pays you a lump sum amount of $289,284 at the end of the term. You must make $20,000 quarterly payments until the end of the term. If you earn an interest rate of 2%, how many of these quarterly payments must you make? (Round to the nearest whole number)
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The Municipal Budget Crunch A Handbook For Professionals
Authors: Roger L. Kemp
1st Edition
0786463740, 978-0786463749
