An ordinary annuity selling at $14,755.18 today promises to make equal payments at the end of...

An ordinary annuity selling at $14,755.18 today promises to make equal payments at the end of each year for the next ten years (N). If the annuity’s appropriate interest rate (I) remains at 9.50% during this time, the annual annuity payment (PMT) will be $_____.

You just won the lottery. Congratulations! The jackpot is $10,000,000, paid in ten equal annual payments. The first payment on the lottery jackpot will be made today. In present value terms, you really won $ _____assuming annual interest rate of 9.50%.

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jeff jeffy answered 2 years ago

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