This topic contains a solution. Click here to go to the answer

Author Question: You have a chance to buy an annuity that pays $1,100at the end of each year for5years. You could ... (Read 85 times)

kmcolvin

  • Full Member
  • ***
  • Posts: 140

Question 1

You deposit $1,000 today in a savings account that pays2.5% interest, compounded annually. How much will your account be worth at the end of40years?

$2,545.08


$2,685.06


$2,681.41


$2,705.48



Question 2

You have a chance to buy an annuity that pays $1,100at the end of each year for5years. You could earn 5.9% on your money in other investments with equal risk. What is the most you should pay for the annuity?

$3,775.77


$3,921.86


$4,075.64


$4,646.23



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by kmcolvin on Aug 7, 2023

Burly

  • Full Member
  • ***
  • Posts: 167
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 55% of students answer this correctly




kmcolvin

  • Member
  • Posts: 140
Reply 2 on: Aug 7, 2023
YES! Correct, THANKS for helping me on my review


Hdosisshsbshs

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

For a complete list of videos, visit our video library