What is the value today of a 15-year annuity that pays $570 per year? The annuity’s...
What is the value today of a 15-year annuity that pays $570 per year? The annuity’s first payment occurs six years from today. The annual interest rate is 11 percent for Years 1 through 5, and 13 percent thereafter.
Homework Answers
We see that the value of the annuity today is given as equal
to=570/13%*(1-1/1.13^15)*1/1.11^5=2186.011158
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What is the value today of a 15-year annuity that pays $570 per
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