Explore BrainMass

Explore BrainMass

    Annuity

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    With an annual return of 9%, how much would I need to invest each year for the next 8 years to pay out $16,000 in the 9th year, $17,000 in the 10th year, $18,000 in the 11th year, and $19,000 in the 12th year?

    © BrainMass Inc. brainmass.com June 3, 2020, 8:58 pm ad1c9bdddf
    https://brainmass.com/business/annuity/annuity-160598

    Solution Preview

    With an annual return of 9%, how much would I need to invest each year for the next 8 years to pay out $16,000 in the 9th year, $17,000 in the 10th year, $18,000 in the 11th year, and $19,000 in the 12th year?

    Note: the abbreviations have the following ...

    Solution Summary

    Calculates the value of an annuity.

    $2.19

    ADVERTISEMENT