You want to buy an ordinary annuity that will pay you $4,000 a year for the next 20 years. You expect annual interest rates will be 8 percent over that time period.
The maximum price you would be willing to pay for the annuity is closest to:
A. $32,000
B. $39,272
C. $40,000
D. $80,000
You want to buy an ordinary annuity that will pay you $4,000 a year for the next 20 years. You expect annual interest ra
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You want to buy an ordinary annuity that will pay you $4,000 a year for the next 20 years. You expect annual interest ra
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