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7. You buy an annuity which will pay you $12,000 a year for ten years. The...

Question:

7. You buy an annuity which will pay you $12,000 a year for ten years. The payments are Tpaid on the last day of each year. W
7. You buy an annuity which will pay you $12,000 a year for ten years. The payments are Tpaid on the last day of each year. What is the value of this annuity today if a 7.0% discount rate is used?

Answers


Solution: Ordinary Annuity 12,000 xPVIFA(7%,10) 7.023582 value of annuity today 84,282.98 **Factor working PVIFA(R%,n) PVIFA(

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