question archive Susan wishes to purchase a 20-year annuity providing month-end payments of $1,100 for 10 years followed by month-end payments of $2,000 for the next 10 years
Susan wishes to purchase a 20-year annuity providing month-end payments of $1,100 for 10 years followed by month-end payments of $2,000 for the next 10 years
Subject:BusinessPrice: Bought3
Susan wishes to purchase a 20-year annuity providing month-end payments of $1,100 for 10 years followed by month-end payments of $2,000 for the next 10 years. Assuming an interest rate of 4.8% compounded monthly (12), how much will it cost Susan to purchase the annuity.
