Which of the following terms is NOT specifically defined under the Uniform Securities Act?A) Broker-dealerB) Broker-dealer repre
1 answer:
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Answer:
The annuity is worth $4100.20 today and if we increase the rate of return, from 7% to 8% the value of the annuity falls to $3992.71.
Explanation:
The step by step solution for the given problem is attached with the image.
The value of annuity will decrease if we increase the rate of return, from 7% to 8%. Future cash flows are discounted using the rate of return, and the higher the discount rate, the lower the present value of the future cash flows.
