Business, 22.05.2020 20:58 applereams

An ordinary annuity selling at $4,947.11 today promises to make equal payments at the end of each year for the next eight years (N). If the annuity’s appropriate interest rate (IN) remains at 6.50% during this time, the annual annuity payment (PMT) will be . You just won the lottery. Congratulations! The jackpot is $35,000,000, paid in eight equal annual payments. The first payment on the lottery jackpot will be made today. In present value terms, you really won assuming annual interest rate of 6.50%.

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