Business Annuity, business and finance homework help

User Generated

NatrynT39

Business Finance

Description

Suppose Mary wants to purchase an annuity that pays $1000/month for the next 20 years. The interest rate on this annuity is 6%. How much will she have to pay now to secure such an annuity?

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Explanation & Answer

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Annuity per month
Years
Interest rate

Annuity per...


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