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Annuities that are available for purchase

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A client has identified two annuities that are available for purchase, The first annuity pays $1,000 at the end of each month over a 3-year period at a nominal rate of 13% p.a. The second annuity pays $3,000 at the end of each three-month (quarterly) period, again over 3 years, at a nominal rate of 12% p.a., but has an annual fee of $250, paid at the beginning of each year. Identify which of the two annuities would be a better option for your client.

Reference no: EM132120952

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