This preview shows page 1. Sign up to view the full content.
Unformatted text preview: put away today? $747 Annuity is a series of sums. If you can get 6% interest and you put 1000 a year away. How much will you have 8 years from today? 9.897*10000= 9,897 You just won the lotter and you have the choice of 20 million a year for 5 years (100,000,000) If the prevailing interest is 4% what would the cash payout be? = 4.4.52*20,000,000=89,040,000 10,000,000 a year for six years or some other number assuming an interest rate of 2 percent. 5.601*10,00,000=5,601,000...
View Full Document
This note was uploaded on 04/14/2011 for the course ACCT 2101 taught by Professor Christianwurst during the Spring '08 term at Temple.
- Spring '08
- Financial Accounting