Kevin Morales invests $20,415.57 now for a series of $3,000 annual returns beginning one year...
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Kevin Morales invests $20,415.57 now for a series of $3,000 annual returns beginning one year from now. Kevin will earn a return of 9% on the initial investment. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How many annual payments of $3,000 will Kevin receive? (Hint: Use Table 4.) (Round answer to 0 decimal places, e.g. 25.) Number of annual payments
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