Laura is contemplating purchasing a single premium annuity from an insurance company. The insurance company...

80.2K

Verified Solution

Question

Accounting

Laura is contemplating purchasing a single premium annuity from an insurance company. The insurance company is promising to pay $619000 after 8 years. They are estimating a 12% annual return. What amount should Laura pay the insurance company today? $245813 $619000 $250002 $928500

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students