Your financial advisor recommends investing in an annuity issued by a top-rated insurance company as part of your overall financial planning strategy. The annuity contract promises to make annual payments of $1,500 for a ten-year period. Assuming a discount rate of 6%, how much is this annuity (contract) worth today?

Answer rating: 100% (QA)

HERE WE HAVE TO FIND OUT PRESENT VALUE ... View the full answer