Question
Your aunt is about to retire, and she wants to buy an annuity that will provide her with income of $26,500 per year for 30
Your aunt is about to retire, and she wants to buy an annuity that will provide her with income of $26,500 per year for 30 years, beginning a year from today. The interest rate is 7%. How much would the annuity cost her today?
|
| a. | $259,805.12 |
|
| b. | $328,839.59 |
|
| c. | $378,481.53 |
|
| d. | $250,321.65 |
|
| e. | $2,503,217 |
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Project Finance in Theory and Practice
Authors: Stefano Gatti
2nd edition
978-9382291589, 123919460, 978-0124157538, 978-0123919465
