
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Transcribed Image Text:1. you have a chance to buy an annuity that pays
$1,000 at the end of each year for 5 years. You could
earn 6% on your money in other investments with
equal risk. What is the most you should pay for the
annuity?
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