question archive You could be thinking of buying an ammalty that pay $4175 at the end of each you for 3 years
You could be thinking of buying an ammalty that pay $4175 at the end of each you for 3 years
Subject:FinancePrice:2.86 Bought8
You could be thinking of buying an ammalty that pay $4175 at the end of each you for 3 years. We could earn 3.35% on his money in other investments with equal risk. What the most he should pay for the lovement 10 points O. 511.047 OD 11,619 OCS12.525 O d. 512.305 O. 511,170
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Rate =3.85%
Number of years =3
Payment per year =4175
The most he should for the investment =Payment per year*((1-(1+r)^-n) =4175*((1-(1+3.85%)^-3)/3.85%) =11619(Option b is correct option)
