Connor has $300,000 to invest in a 5 year annuity. Assuming the time value of money is
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Question:
Connor has $300,000 to invest in a 5 year annuity. Assuming the time value of money is 10%, what amount will Connor receive in cash each year? (Do not round your PV factors. Round your answer to the nearest dollar.)
A. | $79,139 |
B. | $60,000 |
C. | $96,631 |
D. | None of these answers is correct. |
Related Book For
Systems Analysis and Design
ISBN: 978-1133274636
9th Edition
Authors: Shelly Cashman, Gary B. Shelly and Harry J. Rosenblatt
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