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Homework answers / question archive / Annuity Interest rate -  Your folks just called and would like some advice from you

Annuity Interest rate -  Your folks just called and would like some advice from you

Accounting

Annuity Interest rate -  Your folks just called and would like some advice from you. An insurance agent just called them and offered them the opportunity to purchase an annuity for $13365.85 that will pay them $2000 per year for 10 years. They don't have the slightest idea what return they would be making on their investment of $13365.85. What rate of return would they be earning? Round to two decimal places

 

Loan Amortization -  ?(Loan amortization) On December? 31, Beth Klemkosky bought a yacht for $110,000. She paid $16,000 down and agreed to pay the balance in 9 equal annual installments that include both the principal and 8 percent interest on the declining balance. How big will the annual payments? be?

 

On December 31, Beth Klemkosky bought a yacht for $110,000 and paid $16,000 down, how much does she need to borrow to purchase a yacht?

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