Now jeremy use 2800000 to invest annuitysome information, Ask an Expert

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Now Jeremy use 2800000 to invest annuity.some information about this fund as below:

- Monthly payments at the end of each month.

- Total term of 8 years

- Residual value of annuity (at end of the total term) equal to 50% of the purchase price - Nominal rate of return provided by annuity of 8% p.a. compounded monthly.

What is the amount Jeremy will receive from the annuity?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M93040492

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