You are offered the opportunity to put some money away for retirement. You will receive 10 annual payments of $5,000 each beginning in 26 years. If you desire an annual interest rate of 12% compounded monthly, answer the following two questions: a. How much would you be willing to invest today? b. How much would the money worth at the end of your last payment (i.e., in year 35)?

Answer rating: 100% (QA)

a Amount that you would be willing to invest today PV 500... View the full answer