Mathematics, 04.07.2019 02:30 emilylol04173
As part of your retirement plan, you want to set up an annuity in which a regular payment of $50,000 is made at the end of each year. you need to determine how much money must be deposited earning 4.5% compounded annually in order to make the annuity payment for 20 years. a. $647,553.08 c. $655,355.12 b. $650,396.82 d. $658,210.10
Answers: 1
, where m= number of payments in a year=1 here.
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As part of your retirement plan, you want to set up an annuity in which a regular payment of $50,000...
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