You have a chance to buy an annuity
that pays $12800 at the end of each year for 3 years. you could earn 5.5% on your money in other investments with equal risk. what is the most you should pay for the annuity?
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...