An ordinary annuity selling at $8,860.53 today promises to make equal payments at the end of each year for the next six

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

An ordinary annuity selling at $8,860.53 today promises to make equal payments at the end of each year for the next six

Post by answerhappygod »

An Ordinary Annuity Selling At 8 860 53 Today Promises To Make Equal Payments At The End Of Each Year For The Next Six 1
An Ordinary Annuity Selling At 8 860 53 Today Promises To Make Equal Payments At The End Of Each Year For The Next Six 1 (9.36 KiB) Viewed 67 times
An ordinary annuity selling at $8,860.53 today promises to make equal payments at the end of each year for the next six years (N). If the annuity's appropriate interest rate (1) remains at 8.00% during this time, the annual annuity payment (PMT) will be You just won the lottery. Congratulations! The jackpot is $10,000,000, paid in six equal annual payments. The first payment on the lottery jackpot will be made today. In present value terms, you really won -assuming annual interest rate of 8.00%.
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”