Mr tomas wants to buy an annuity of 1000 a year for 10, Ask an Expert

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Mr. Tomas wants to buy an annuity of $1,000 a year for 10 years that is protected against inflation. The ABC Trust Company offers to sell him an annuity where payments increase each year by exactly 10%. Find the cost of this annuity if the rate of interest is 12% per annum.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92432717

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