Mathematics, 02.07.2020 02:01 Anikarenee

Annuity A requires annual contributions over 5 years and pays 5% annual interest. Annuities B and C have the same interest rate and annual contributions, but have a term of 10 and 30 years respectively. Each annuity has $50,000 in it at the end of its term. Hence, the only difference between these annuity options is the payment amount and length of the plan. Which annuity has a greater amount of interest than the sum of contributions over their term?

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Annuity A requires annual contributions over 5 years and pays 5% annual interest. Annuities B and C...

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