An insurance company offers you an end of year annuity of $48,000 per year for the next 20 years.They claim your return on the annuity is 9 percent.What should you be willing to pay today for this annuity?
A) $429,600
B) $438,144
C) $408,672
D) $398,144
Correct Answer:
Verified
Q43: Idlewild Bank has granted you a seven-year
Q44: BB&C bank has agreed to lend you
Q46: The lease on a new office requires
Q47: You have just won a $50,000 bond
Q49: New Jersey Mutual has offered you a
Q50: Columbia Bank & Trust has just given
Q53: John is 25 years old and wishes
Q54: Designs Now is opening a showcase office
Q58: Many IRA fund managers argue that investors
Q59: Billy Bob has decided to put $2,400
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents