Charlie Stone wants to retire in 30 years, and he wants to have an annuity of $1,000 a year for 20 years after retirement. Charlie wants to receive the first annuity payment at the end of the 30th year. Using an interest rate of 10%,
how much must Charlie invest today in order to have his retirement annuity (round to the nearest $10)?
A) $500
B) $490
C) $540
D) $570
Answer: C
Business
You might also like to view...
What approach combines the benefits of individual and group creativity?
a. Nominal group technique b. Brainwriting c. Brainstorming d. a and b.
Business
Kohlberg believed that all people reach the third stage of moral development by adulthood
a. True b. False Indicate whether the statement is true or false
Business
Today, e-business is transforming key business activities.
Answer the following statement true (T) or false (F)
Business
Realized income is included in gross income unless a tax provision specifies that it can be deferred or excluded.
Answer the following statement true (T) or false (F)
Business