Business, 18.08.2020 17:01 vixen0528ow6mza

A man who is going to be living abroad for 2 years wants to buy an ordinary annuity that will provide monthly payments of $750 to his parents at the end of each month while he is gone. The interest rate he can obtain is 6% compounded monthly. a) Over the 2 years, how much money will his parents receive from their son?
b) What is the amount of the annuity that he must buy now (present value) to generate these payments?

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A man who is going to be living abroad for 2 years wants to buy an ordinary annuity that will provid...