Question
Your father is about to retire, and he wants to buy an annuity that will provide him with $77,000 of income a year for 25
Your father is about to retire, and he wants to buy an annuity that will provide him with $77,000 of income a year for 25 years, with the first payment coming immediately. The going rate on such annuities is 5.15%. How much would it cost him to buy the annuity today?
Please help me solve, on excel if possible
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Contemporary Economics An Applications Approach
Authors: Robert Carbaugh
8th Edition
1138652199, 978-1138652194
