ANNUITIES

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An annuity is a series of equal dollar payments for a specified number of years. Examples of annuities include mortgage payments, interest payments on bonds, fixed lease payments, and any fixed contractual payment. Presented are two formulas to calculate annuities: Present value of annuity and future value of annuity

 

Present Value of Annuity   and    Future Value of Annuity Formula

 

The offered several examples and shortcuts in calculating annuities.

 

If you are a lottery winner, would you accept a cash option or annuity for your winnings? If so, why? How would choosing either cash option or annuity benefit you now or in the future

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