Bb / Bb Bb / Bb Bb / / Bb Bb Bb Bb Bb Bb Bb / Bb Bb Bb Bb Bb Bb Bb G C Bb Bb UIC Bb & G C GC CC@ 5 // BL BUC / N G G G X GH + V X - C learn-us-east-1-prod-fleet02-xythos.content.blackboardcdn.com/5cc71db6522fe/20973487?X-Blackboard-Expiration=16662564000008X-Blackboard-Signature=S... Q _ * I G E 20973487 8 / 13 95% 5 Annuity Under the NBA deferred compensation plan, payments are taken from a player's compensation at the end of each year and accumulated up through retirement in an investment account. Upon retirement, the retiree specifies over how many years payments from the investment account will be received. In retirement, payments are made at the beginning of each year, starting the day of retirement. Assume Tim Duncan has had $5,000 deposited at the end of each year for 40 years, and that the long- 6 term interest rate has been and will be 7%. Required: If Tim Duncan elects to receive his deferred compensation for 20 years into his retirement, how much will he receive in each year? "PV = 998, 175 PMT = ? WITHDRAWLS - - - PV = PVAD . PMT CONTRIBUTIONS # 1 1-1 - - - 7 '12 1 n: 20 998, 175 = FV 998,175 = 17.33560 . PMT 998, 175 = PMT = LSo' 88 FV = FVA/ . PMT = 199.6351. 5 11. 335 60 1: 73. : 998, 175 8 n: 40 Type here to search . R + O : a W 34.F ENG 12:19 AM 94 X A 10/20/2022