If you put up $41,000 today in exchange for a 6.75 percent, 14-year annuity, what will the annual cash flow be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

If you put up $41,000 today in exchange for a 6.75 percent, 14-year annuity, what will the annual cash flow be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Financial Management: Theory & Practice

16th Edition

ISBN:9781337909730

Author:Brigham

Publisher:Brigham

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 1MC

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Question

Mc
Graw
Hill
If you put up $41,000 today in exchange for a 6.75 percent, 14-year annuity, what will the
annual cash flow be? (Do not round intermediate calculations and round your answer
to 2 decimal places, e.g., 32.16.)
Answer is complete but not entirely correct.
Annual cash flow
$ 101,357.54 X
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3
80
S4
$
4
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