Question

Help Anyone?

ammy has an annuity that pays him $9600 at the beginning of each year. Assume the economy will grow at a rate of 3.1% annually. What is the value of the annuity if he received it now instead of over a period of 10 years?

$78,044.65

$80,651.16

$81,075.98

$83,999.29

Answer 1

@hba help please?

Answer 2

@amistre64 help please?

Answer 3

@johnweldon1993 help please?

Answer 4

@agent0smith help please?

Answer 5

@ganeshie8 help please?

Answer 6

not real sure how the growth rate of the economy factors in ....

Answer 7

@ashwinjohn3

Answer 8

@emilyowl

Answer 9

@johnweldon1993

Answer 10

Sorry guys, his name is Sammy***

Answer 11

Okay, so the easiest way I can explain it is complex. The problem is going to be 1) 9600 + (9600*3.1) = 29760 2) 29760 + (29760*3.1) = 92256 3) 92256 + (92256*3.1) = 378249.6 Once you get to the tenth step, divide it by ten.

Answer 12

wait whats the 4rth step?

Answer 13

I'm not sure if you're meant to do it like compound interest, but i think maybe you are....