An insurance company offers you a year-end annuity of $48,000 per year for the next 20 years.
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An insurance company offers you a year-end annuity of $48,000 per year for the next 20 years. They claim that their annuity yield is 9 percent. How much should you be willing to pay for this annuity today?
Related Book For
Financial Accounting and Reporting a Global Perspective
ISBN: 978-1408076866
4th edition
Authors: Michel Lebas, Herve Stolowy, Yuan Ding
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