× Didn't find what you were looking for? Ask a question
Top Posters
Since Sunday
Home Q & A Board Other Fields Homework Help Business Finance
New Topic  
Ishara Kariyawasam Ishara Kariyawasam
wrote...
Posts: 1
Rep: 0 0
3 years ago
Charlie Stone wants to retire in 30 years, and he wants to have an annuity of $1000 a year for 20 years after retirement. Charlie wants to receive the first annuity payment at the end of the 30th year. Using an interest rate of 10%, how much must Charlie invest today in order to have his retirement annuity (round to nearest $10).

Select one:

a.
$490


b.
$500


c.
$540


d.
$570
Read 613 times
1 Reply

Related Topics

Replies
wrote...
#1
Educator
3 years ago
C is the correct answer:
New Topic      
Quick Reply
Bold
Italic
Underline
Strikethrough
Subscript
Superscript
Insert Math Equation
Font Name
Font Color
Align left
Center
Align right
Bullet list
Numbered list
Insert a horizontal rule
Insert a table
Insert a Quote
View source
Explore
Post your homework questions and get free online help from our incredible volunteers
  1148 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 600
  
 803
  
 308
Your Opinion
Do you believe in global warming?
Votes: 781
Previous poll results: Which country would you like to visit for its food?