If you put up $31,000 today in exchange for a 5.25 percent, 15-year annuity, what will the annual cash flow be?

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 11EA: How much would you invest today in order to receive $30,000 in each of the following (for further...
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If you put up $31,000 today in exchange for a 5.25 percent, 15-year annuity, what will the annual cash flow be?
Multiple Choice
$465,000.22
$2,066.67
$3,037.29
$1,409.79
Transcribed Image Text:d If you put up $31,000 today in exchange for a 5.25 percent, 15-year annuity, what will the annual cash flow be? Multiple Choice $465,000.22 $2,066.67 $3,037.29 $1,409.79
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