February 25, 2017

Homework Help: math

Posted by stuck on this one ? on Saturday, April 30, 2011 at 11:40pm.

The terms of a single parent's will indicate that a child will receive an ordinary annuity of $20,000 per year from age 18 to age 24 (so the child can attend college) and that the balance of the estate goes to a niece. If the parent dies on the child's 17th birthday, how much money must be removed from the estate to purchase the annuity? (Assume an interest rate of 9%, compounded annually

Answer This Question

First Name:
School Subject:

Related Questions

More Related Questions