If $30,000 Is Used to Purchase an Annuity Consisting of Equal

question 166

Short Answer

If $30,000 is used to purchase an annuity consisting of equal payments at the end of each quarter for the next 5 years and the interest rate is 8% compounded quarterly,find the amount of each payment.

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Definitions:

Interactional Justice

The degree to which others are treated with dignity and respect.

Ethical Concern

Issues or situations that require a person or organization to choose between alternatives that must be evaluated as right (ethical) or wrong (unethical).

Organisational Analysis

A systematic study of an organization's structure, functions, and dynamics to identify areas of improvement or development.

External Environment

Factors outside an organization that can affect its performance, including economic, political, social, and technological aspects.