Problemyou have a chance to buy an annuity that pays 12800, Ask an Expert

Finance

Problem:

You have a chance to buy an annuity that pays $12,800 at the end of each year for 3 years. You could earn 5.5% on your money in other investments with equal risk.

Required:

Question 1: What is the most you should pay for the annuity? Explain in detail and show all work.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91147203

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