1. On this date in 2028, you will receive the 1 st annual payment of $4,000. The...
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Question:
1. On this date in 2028, you will receive the 1st annual payment of $4,000. The annual payments will continue through and including this date in 2034.
a. How many payments will you receive?
b. If you required return is 8%, find value today of this annuity.
2. Beginning on this date in 2030, you will put $6,000 into your Retirement Account. You will continue to make annual deposits on this date thru and including 2064 and the Retirement Account will grow at 7 percent annually,
a. How many total payments will be made?
b. Find value of the Retirement Account on this date in 2064
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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