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Charlie Stone wants to retire in 30 years, and he wants to have an annuity of $1000 a year for 20 ye
Ishara Kariyawasam
Ishara Kariyawasam
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A month ago
A month ago
Charlie Stone wants to retire in 30 years, and he wants to have an annuity of $1000 a year for 20 ye
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
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bio_man
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#1
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A month ago
C is the correct answer:
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