Determine what is the length of the annuity time period

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You are considering an annuity which costs $74,100 today. The annuity pays $6,000 a year. The rate of return is 5 percent. What is the length of the annuity time period?

Your parents are giving you $310 a month for 5 years while you are in college. At a 8 percent discount rate, what are these payments worth to you when you first start college?

Reference no: EM13328466

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