You have a chance to buy an annuity that pays $5,000 at the beginning of each year for 5 years. You could earn 4.5% on your money in other investments with equal risk. What is the most you should pay for the annuity?
e. $25,289© BrainMass Inc. brainmass.com June 4, 2020, 1:40 am ad1c9bdddf
The solution calculates the appropriate value of given annuity.