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You are considering an annuity that costs $160,000 today. the annuity pays $17,500 a year at an annual interest rate of 7.5 percent. what is the length of the annuity time perio…

You are considering an annuity that costs $160,000 today. the annuity pays $17,500 a year at an annual interest rate of 7.5 percent. what is the length of the annuity time perio…
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You are considering an annuity that costs $160,000 today. the annuity pays $17,500 a year at an annual interest rate of 7.5 percent. what is the length of the annuity time period?

asked
User Fab
by
8.8k points

1 Answer

4 votes
N=log((1−(160,000×0.075
÷17,500))^(−1))÷log(1
+0.075)
=16 years
You are considering an annuity that costs $160,000 today. the annuity pays $17,500 a-example-1
answered
User Elisahmendes
by
8.6k points
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