Marissa purchases a retirement annuity that will pay her $1,000 at the end of every six months for the first eleven year
Posted: Sun Jul 03, 2022 1:31 pm
Marissa purchases a retirement annuity that will pay her $1,000at the end of every six months for the first eleven years and $900at the end of every month for the next six years. The annuity earnsinterest at a rate of 4.2% compounded quarterly. a. What was thepurchase price of the annuity? $0.00 Round to the nearest cent b.How much interest did Marissa receive from the annuity? $0.00 Roundto the nearest cent.