You are about to retire and have saved $750,000. Really Safe Insurance Company has offered to sell you an annuity contract that will pay you a fixed amount each month for thirty years
The interest rate on the contract is 7.5% per year. Calculate how much you would get on the first day of each month during those thirty years.
N = 30 * 12 = 360 also accept -360
RATE = 7.5/12 = .625%
PV = $750,000
In advance – press bgn key
Payment = $5,213.01
Business
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