An annuity that pays $12,500 a year at an annual interest rate of 5.45 percent costs $150,000

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An annuity that pays $12,500 a year at an annual interest rate of 5.45 percent costs $150,000 today. What is the length of the annuity time period?

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Fundamentals Of Financial Management

ISBN: 9781111795207

11th Edition

Authors: Richard Bulliet, Eugene F Brigham, Brigham/ Houston

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Posted Date: Dec 27, 2023 01:13 AM

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An annuity that pays $12,500 a year at an annual interest rate of 5.45 percent costs $150,000

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To find the length of the annuity time period you can use the present value ... View the full answer

Fundamentals Of Financial Management

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