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Mr Hulk buys an annuity. The annuity costs $1000 and has 8% interest compounded annually. The annuity is for 5 years. If Mr Hulk has $0 left in this annuity, then how much is receiving in payments every
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Mr Hulk buys an annuity. The annuity costs $1000 and has 8% interest compounded annually. The annuity is for 5 years. If Mr Hulk has $0 left in this annuity, then how much is receiving in payments every year?

the answer has to be positive ​

User Jenssen
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1 Answer

4 votes
625because 1000 divided by 8 x 5 would be your answer
User Dita
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