Posted by Beth on Monday, December 5, 2011 at 7:40pm.
4.Suppose John sells his house and earns a profit of $600,000. With the profit, he buys a 20 year annuity that earns 6.5% interest compounded monthly. What monthly payment will John get?

math  Anonymous, Monday, December 5, 2011 at 10:32pm
$3900
Answer This Question
Related Questions
 algebra  Suppose a retiree wants to buy an ordinary annuity that pays her $2,...
 Finite!!!  John Buys a used car costing $6000. He agrees to make payments at ...
 math  Suppose payments were made at the end of each month into an ordinary ...
 Maths  Dave takes out a 27year mortgage of 200000 dollars for his new house. ...
 Finance  Consider the following scenario: John buys a house for $150,000 and ...
 Finance  Consider the following scenario: John buys a house for $150,000 and ...
 Business  Bob buys a house for 150,000 with a mortgage rate of 5.8% convertible...
 math  Suppose payments were made at the end of each month into an ordinary ...
 MATH  Dave takes out a 24year mortgage of 210,000 dollars for his new house. ...
 math  A lender gives you a choice between the following two 30year mortgages ...
More Related Questions