Calculate how much joseph should be willing to pay

Reference no: EM133665214

Problem: Joseph is planning for his retirement this year. One option that has been presented to him is the purchase of an annuity that would provide a $55,000 payment each year for the next 18 years. Calculate how much Joseph should be willing to pay for the annuity if he can invest his funds at 9%.

Reference no: EM133665214

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