Morgan Jennings, a geography professor, invests $95,000 in a parcel of land that is expected to increase in value by 14 percent per year for the next eight years. He will take the proceeds and provide himself with a 20-year annuity. Assuming a 14 percent interest rate, how much will this annuity be? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Morgan Jennings, a geography professor, invests $95,000 in a parcel of land that is expected to increase in value by 14 percent per year ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Manx Corporation transfers 40% of its stock and $50,000 in cash to Somali Corporation for $500,000 of assets and all $200,000 of its liabilities.
Answers (1)
A consumer will buy a new product rather than an existing product A) when the MU/P of the new product is less than the MU/P of the existing product.
Answers (1)
What should you do first if you receive a phone that there has been fraudulent behavior use on your credit card?
Answers (1)
returned unsatisfactory merchandise to Prestigious Bakery for $5,000 receiving a credit note for these goods.
Answers (1)
Which of the following is an example of a complementary product? a) a sweater and matching pants b) socks and shoes c) cream and a coffeemaker d) gas for a car
Answers (1)
New Questions in Business
involves matching the candidate's intellectual and physical skills to those of the job being filled. a. Person-organization fit b. Cognitive analytics c. Ability-job fit d. Personality-ability fit e. Personality-job fit
Answers (1)
Assume that a $1,000,000 par value, semiannual coupon US Treasury note with five years to maturity has a coupon rate of 6%. The yield to maturity (YTM) of the bond is 11.00%.
Answers (2)
The shareholders' equity of Green Corporation includes $200,000 of $1 par common stock and $400,000 par of 6% cumulative preferred stock.
Answers (1)
True or False: An interest-bearing account is an account that generates interest income on the available balance in the account. → False
Answers (1)
Answer the question on the basis of the following information for a bond having no expiration date: bond price = $1,000; bond fixed annual interest payment = $100; bond annual interest rate = 10 percent. Refer to the given information.
Answers (1)