You want to establish an annuity that will pay you $14,000 per year for 22 years. If the prevailing rate in the economy is 3.75%, how much must you deposit today to establish this annuity. $173,669.70 $207,237.61 $238,429.37 $215,000.02
You want to establish an annuity that will pay you $14,000 per year for 22 years. If the prevailing rate in the economy is 3.75%, how much must you deposit today to establish this annuity. $173,669.70 $207,237.61 $238,429.37 $215,000.02
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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![You want to establish an annuity that will pay you $14,000 per year for 22 years. If the prevailing
rate in the economy is 3.75%, how much must you deposit today to establish this annuity.
$173,669.70
$207,237.61
$238,429.37
O $215,000.02
88](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc790c56e-6040-4fac-977f-3f8f6b1c52b4%2Fba3f172c-ff91-4c5f-9110-70a2e667f3ca%2Fcbyibvt_processed.png&w=3840&q=75)
Transcribed Image Text:You want to establish an annuity that will pay you $14,000 per year for 22 years. If the prevailing
rate in the economy is 3.75%, how much must you deposit today to establish this annuity.
$173,669.70
$207,237.61
$238,429.37
O $215,000.02
88
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