Question

You have a chance to buy an annuity that pays $1100 at the end of each year for 3 yeas. You could earn 3% on your money in other investments with equal risk. What is the most you should pay for the annuity?

Related Questions

Suppose a retiree wants to buy an ordinary annuity that pays her $2,000 per month for 20 years. If t... Guaranty income life offered an annuity that pays 6.65% compunded monthly. if deposited into this an... $100 is deposited at the beginning of every week for five years in an account that pays 14%/a, compo...