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Free_Kalibri [48]
4 years ago
6

Your uncle is about to retire, and he wants to buy an annuity that will provide him with $75,000 of income a year for 20 years,

with the first payment coming immediately at the beginning of the month. The going rate on such annuities is 5.25%. How much would it cost him to buy the annuity today? Round to the nearest dollar.
Business
1 answer:
kolezko [41]4 years ago
8 0

Answer:

It cost $915,166.69

Explanation:

R=75,000

i=j/m, j=0.0525, m=1 - annually

i=0.0525

n=mt

n=20

An=R[1-(1+i)^-n] : i

An=(75,000x[1-(1+0.0525)^-20]) : 0.0525

An=$ 915,166.69

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Licemer1 [7]

Answer and Explanation:

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3 years ago
Nakeya and other foreign citizens allege environmental destruction committed overseas by the government of Cameroon on behalf of
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Answer:

Correct answer is (c). bring civil suits under the Alien Tort Claims Act

Explanation:

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3 0
4 years ago
A manufacturer tests, modifies, and retests an original idea several times before offering it to the consumer. This process is c
taurus [48]

Answer:

Product development

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Generally, there are four (4) stages in the product-life cycle;

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7 0
3 years ago
What is debit? And what is credit?​
Shtirlitz [24]
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5 0
2 years ago
During April, Cavy Company incurred factory overhead as follows:Indirect materials $10,500Factory supervision labor 4,000Utiliti
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Answer:

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April             Factory Overhead                           $16,720

                    Indirect materials                                                    $10,500

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                     Utilities payable                                                     $  500

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3 0
3 years ago
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