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solina solina
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7 years ago
Charlie Stone wants to retire in 30 years, and he wants to have an annuity of $1,000 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 the nearest $10)?
A) $500
B) $490
C) $540
D) $570
Textbook 
Financial Management: Principles and Applications

Financial Management: Principles and Applications


Edition: 13th
Authors:
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Heavy Heart Thank you bio-forums! Heavy Heart
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vanrheevanrhee
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7 years ago
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