FOUNDATIONS OF FINANCE-MYFINANCELAB
FOUNDATIONS OF FINANCE-MYFINANCELAB
10th Edition
ISBN: 9780135160619
Author: KEOWN
Publisher: PEARSON
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Chapter 2, Problem 9RQ
Summary Introduction

 To discuss: Whether the tendencies about floatation costs relate to the treasurer.

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Please Help. All the examples I see have the incorrect answer. The correct answer to this problem is $154,750. I need to know how to get this answer. Specifically, I would like to know how to enter this into a financial calculator, if possible. Thank you! Question: Charlie wants to retire in 15​ years, and he wants to have an annuity of​ $50,000 a year for 20 years after retirement. Charlie wants to receive the first annuity payment the day he retires. Using an interest rate of​ 8%, how much must Charlie invest today in order to have his retirement annuity​ (rounded to nearest​ $10)?
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