Question: Nee help in figuring out these 2 questions please The average American has $99 lying about, Stick $99 in an ordinary annuity amount each year
Nee help in figuring out these 2 questions please
The average American has $99 lying about, Stick $99 in an ordinary annuity amount each year for 10 years at 5% interest and watch it grow. What is the cash value of this amount of this annuity at the end of year 10?
Robert Nelson has decided to retire in Lawton after 10 years. What amount he should invest today, so that he will be withdraw $28,800 at the end of each year for 15 years after he retires? Assume he can invest the money at 8% compounded annually.
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