Juan has an annuity that pays him $9400 at the beginning of each year. Assume the economy will grow at a rate of 3.4% annually.
What is the value of the annuity if he received it now instead of over a period of 10 years?
2 answers:
Answer:
We simply determine the present value of a compound increasing annuity.
Step-by-step explanation:
Answer: $81,243.05
Step-by-step explanation:
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