Investing in an annuity contract
Problem:
Kilarny Company is considering investing in an annuity contract that will return $20,000 annually at the end of each year for 15 years. What amount should Kilarny Company pay for this investment if it earns a 6% return?
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Kilarny Company is considering investing in an annuity contract that will return $20,000 annually at the end of each year for 15 years.
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