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How much should you pay for the annuity

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Question - You are saying for retirement. You will contribute $3,600 at the beginning of every year into your retirement account. You will earn 6% compounded annually on your contributions. You will retire when the account has $1,500,000 in it. How many years until you retire? Question Nine: You have just purchased an annuity. The annuity will pay you $1,200 per year, at the end of each year, for the next 30 years. You wish to earn 9% compounded annually. How much should you pay for the annuity?

Reference no: EM132484265

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