Question: PLEASE EXPLAIN USING EXCEL ONLY Your uncle is about to retire, and he wants to buy an annuity that will provide him with $74,657 of

PLEASE EXPLAIN USING EXCEL ONLY

PLEASE EXPLAIN USING EXCEL ONLY Your uncle is about to retire, and

Your uncle is about to retire, and he wants to buy an annuity that will provide him with $74,657 of income a year for 14 years, with the first (income) payment taking place immediately. The relevant rate on such annuities is 9%. How much would it cost him to buy the annuity today

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