Sarah wants to invest in an annuity that pays her $1,000 per year for the next 20years.
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Sarah wants to invest in an annuity that pays her $1,000 per year for the next 20years. If the annuity pays interest at a rate of 7% per year, compounded annually, how much must she invest today to receive these payments?
Related Book For
Cost Accounting Foundations and Evolutions
ISBN: 978-1111626822
8th Edition
Authors: Michael R. Kinney, Cecily A. Raiborn
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