1. You just purchased an annuity that pay you $ 24,000 a year for 25 years, starting...

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1. You just purchased an annuity that pay you $ 24,000 a year for 25 years, starting today. what was the purchase price if the discount rate in 8.5 percent?

A. $241,309

B. $245,621

C. $251,409

D. $258,319

E. $266,498

Related Book For answer-question

Basic Finance An Introduction to Financial Institutions, Investments and Management

ISBN: 978-1285425795

11th Edition

Authors: Herbert B. Mayo

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Posted Date: Oct 08, 2018 12:23 AM

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1. You just purchased an annuity that pay you $ 24,000 a year for 25 years, starting...

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Basic Finance An Introduction to Financial Institutions, Investments and Management

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