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BE2-27 Kilarny Company: calculate amount to invest in an annuity contract

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BE2-27 Kilarny Company is considering investing in an annuity contract that will return
$20,000 annually at the end of each year for 15 years. What amount should Kilarny Company
pay for this investment if it earns a 6% return?

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The annual payment is PMT=$20,000
number of periods is N=15
The required rate ...

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