Question: You are considering an annuity which costs $ 9 0 , 5 0 0 today. The annuity pays $ 6 , 2 0 0 a

You are considering an annuity which costs $90,500 today. The annuity pays $6,200 a year. The rate of return is 6 percent. What is the length of the annuity time period? (Do not round intermediate calculations.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

A B D F Dayton, Inc. Annual Income Statement (Values in Millions) Common Size 2012 2011 2012 2011 Sales $ 178,909 $ 187,510 Cost of Sales 111.631 Gross Operating Profit Selling, General & Admin....

Q:

Your company will generate $62,000 in annual revenue each year for the next eight years from a new information database. If the appropriate interest rate is 825 percent, what is the present value of...

Q:

1. You are considering an annuity which costs $89,500 today. The annuity pays $5,600 a year. The rate of return is 4 percent. What is the length of the annuity time period? (Do not round intermediate...

Q:

QUESTION 2 In 1991 the average tuition for one year at a 4-year institution was $5,300. Thirty years later, in 2021, it had risen to $21,200. What was the growth rate in tuition over this 30-year...

Q:

You are considering an annuity which costs $52700 today. The annuity pays $4800 a year. The rate of return is 8 percent. What is the length of the annuity time period? (Do not round intermediate...

Q:

6. Targey is considering an annuity which costs $73,600 today. The annuity pays $5,700 a year. The rate of return is 6 percent. What is the length of the annuity time period? (Do not round...

Q:

You are considering an annuity which costs $75600 today. The annuity pays $6900 a year. The rate of return is 6 percent. What is the length of the annuity time period? (Do not round intermediate...

Q:

Cindy is considering an annuity which costs $250,000 today. The annuity pays $24,000 a year. The rate of return is 4.2%. What is the length of the annuity time period? 17.81 years 16.30 years 15.07...

Q:

You are considering an annuity which costs $98,267 today. The annuity pays $6,700 a year. The rate of return is 6 percent. What is the length of the annuity time period? (Do not round intermediate...

Q:

You are considering an annuity which costs 50,000 today. The annuity pays 3,000 a year. The rate of return is 3.39%. What is the length of the annuity time period?

Q:

You are considering an annuity which costs $54700 today. The annuity pays $6100 a year. The rate of return is 7 percent. What is the length of the annuity time period? (Do not round intermediate...

Q:

Forms often allow a user to enter an integer. Write a program that takes in a string representing an integer as input, and outputs yes if every character is a digit 0-9. Ex: If the input is: 1995 the...

Q:

Discuss the role of experimentation in helping Motorola design handsets that are preferred by consumers.

Q:

the board of directors at knox port holdings decide to divest its underperformance estate division in 2 0 2 4 and focus on the technology business they recently acquired. what type of stratgic...

Q:

Which of the following is true of Generation Z ? ( Read through all answers. ) All of the answers listed are true Prefer popular mass produced products that look just like what their friends have...

Q:

TRW wanted a consistent system it could use globally. A study similarly found that large multinational companies from the United States, Holland, Japan, Korea, and Taiwan used the same performance...

Q:

Briefly discuss what an interviewer can do to improve his or her interviewing performance.

Q:

Why do you think situational interviews yield a higher mean validity than do job-related or behavioral interviews, which in turn yield a higher mean validity than do psychological interviews?