Question: PLEASE ROUND ALL ANSWERS TO TWO DECIMAL POINTS. 20 & 21 ARE ONE QUESTION Question 20 1/1 pts 20. You purchase an annuity paying $120

PLEASE ROUND ALL ANSWERS TO TWO DECIMAL POINTS. 20 & 21 AREPLEASE ROUND ALL ANSWERS TO TWO DECIMAL POINTS. 20 & 21 ARE ONE QUESTION

Question 20 1/1 pts 20. You purchase an annuity paying $120 monthly for 20 years at a discount rate of 7.4%. What was the amount of your investment? 15,009.58 Incorrect Question 21 0 / 1 pts 21. After ten years you need cash and decide to sell the annuity to your sister-in- law for a lump sum. The current rate of return on investment instruments with similar risk is 6%. What would be a fair price? 10,153.96

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