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If you put up $47,000 today in exchange for a 6.75 percent, 14-year annuity, what will the annual cash flow be? (do not round intermediate calculations and round your final answ…

If you put up $47,000 today in exchange for a 6.75 percent, 14-year annuity, what will the annual cash flow be? (do not round intermediate calculations and round your final answ…
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If you put up $47,000 today in exchange for a 6.75 percent, 14-year annuity, what will the annual cash flow be? (do not round intermediate calculations and round your final answer to 2 decimal places,

e.g., 32.16.)

asked
User Damir Arh
by
8.4k points

1 Answer

2 votes

Your answer should be 5,293.92

C = $47,000 / 8.878105

C = $5,293.92

answered
User Isaac Levin
by
8.9k points
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