Question
Your financial planner has recommended you purchase an annuity as part of your investment strategy. She is recommending an annuity that will pay you $4,400
Your financial planner has recommended you purchase an annuity as part of your investment strategy. She is recommending an annuity that will pay you $4,400 per quarter for 25 years. You want to earn a minimum rate of return of 6.8 percent. What is the most you are willing to pay as a lump sum today to buy this annuity?
| $191,444 | ||
| $194,420 | ||
| $208,852 | ||
| $210,860 | ||
| $215,222 |
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Financial Institutions Management A Risk Management Approach
Authors: Anthony Saunders, Marcia Millon Cornett
9th edition
1259717771, 1259717772, 9781260048186, 1260048187, 978-1259717772
