Mathematics, 02.02.2021 23:20 jtbrown0093
As part of your retirement plan, you want to set up an annuity in which a regular payment of $25,312 is made at the end of each year. You need to determine how much money must be deposited earning 6.2% compounded yearly in order to make the annuity payment for 20 years.
a.
$2,242.78
c.
$285,671.10
b.
$506,240
d.
$537,626.90
Answers: 2
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Answers: 1
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