Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. you are considering an annuity which costs $102,96

You are considering an annuity which costs $102,965 today. The annuity pays $7,800 a year...

80.2K

Verified Solution

Question

Finance

You are considering an annuity which costs $102,965 today. The annuity pays $7,800 a year at an annual interest rate of 6.5 percent. What is the length of the annuity time period?

a) 29.90 years

b) 32.00 years

c) 31.00 years

d) 14.20 years

e) 47.70 years

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

The Wei Corporation expects next year's net income to be $ 15 million. The firm's debt...

Finance
Q

Two particles A and B of de Broglie wavelength AA and Ag are in motion...

Physics
Q

8 Find the area of the region inside r 4 sin but outside r 2

Geometry
Q

The College Board reports that in 2013 the mathematics SAT scores were normally distributed with...

Statistics
Q

Suppose that f x 3x 1 and g x 2x 4 a Solve f x...

Algebra
Q

The following data represents information necessary to assist in preparing the March 31,2018...

Accounting
Q

Which of the following statements is true with regard...

Accounting
Q

Osage, Inc., manufactures and sells lamps. The company produces only when it receives orders and,...

Accounting
Q

The contribution format income statement for Huerra Company for last year is given below: ...

Accounting
Q

Rocky Mountain Corporation makes two types of hiking boots-Xactive and Pathbreaker. Data concerning these two...

Accounting
Q

For 2013, Harper Company sold 93,000 units at a selling price of $21 per unit....

Accounting
Q

A property was purchased for $6880.00 down and payments of $840.00 at the end of...

Finance