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MC Qu. 6-A9 You are considering an annuity which costs... You are considering an

ID: 2641080 • Letter: M

Question

MC Qu. 6-A9 You are considering an annuity which costs...

You are considering an annuity which costs $90,500 today. The annuity pays $6,200 a year. The rate of return is 6 percent. What is the length of the annuity time period? (Do not round intermediate calculations.)


rev: 09_26_2013_QC_36309

You are considering an annuity which costs $90,500 today. The annuity pays $6,200 a year. The rate of return is 6 percent. What is the length of the annuity time period? (Do not round intermediate calculations.)

Explanation / Answer

14.60years

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