Mark Ventura has just purchased an annuity to begin payment two years from today. The annuity is for $8,000 per year and is designed to last 10 years. If the interest rate for this problem calculation is 13 percent, what is the most he should have paid for the annuity?
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![PV=C\times \bigg[\dfrac{1}{r}-\dfrac{1}{r(1+r)^t}\bigg]](/tpl/images/0545/1663/52080.png)
![PV=\$8,000\times \bigg[\dfrac{1}{0.13}-\dfrac{1}{0.13(1+0.13)^{10}}\bigg]](/tpl/images/0545/1663/30f7e.png)
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Mark Ventura has just purchased an annuity to begin payment two years from today. The annuity is for...
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