If you want to be paid from a 15 year ordinary annuity with a guaranteed rate of 4.277% compounded annually, how much should you pay for one of these annuities if you want to receive annual payments of $10,000.00 over the 15 year period?

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 20E
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if you want to be paid from a 15 year ordinary annuity with a guaranteed rate of 4.277% compounded annually, how much should you pay for
one of these annuities if you want to receive annual payments of $10,000.00 over the 15 year period?
Transcribed Image Text:if you want to be paid from a 15 year ordinary annuity with a guaranteed rate of 4.277% compounded annually, how much should you pay for one of these annuities if you want to receive annual payments of $10,000.00 over the 15 year period?
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