Page 1 of 1
$11,000 is to be paid at the end of each year in a legal settlement. The payments end after 9 years. The interest rate f
Posted: Thu May 12, 2022 7:28 am
by answerhappygod
- 11 000 Is To Be Paid At The End Of Each Year In A Legal Settlement The Payments End After 9 Years The Interest Rate F 1 (17.67 KiB) Viewed 30 times
$11,000 is to be paid at the end of each year in a legal settlement. The payments end after 9 years. The interest rate for the fund is 1.15% compounded annually. How much money needs to be deposited in order to fund this annuity? Use the Present Value of an Ordinary Annuity formula: 1+i) PV PMT(--(44.0"] Express the answer in the proper unit rounded to the nearest cent.