Question

If you put up $47,000 today in exchange for a 6.75 percent, 14-year annuity, what will the annual cash flow be? (do not round intermediate calculations and round your final answer to 2 decimal places,

e.g., 32.16.)

Answer 1

Your answer should be 5,293.92

C = $47,000 / 8.878105

C = $5,293.92