Calculate price of a 25-year annuity making a $60 annual payment, discounted at 5%.

the price of a 25-year annuity  is $845.64

Explanation:

The computation of the price is as follows:

The price of a 25-year annuity  is

= Annual payment × ((1 - (1 + discounted rate)^(number of years)) ÷ discounted rate)

 = $60 × ((1 - (1 + 5%)^(-25)) ÷ 5%)

= $845.64

hence, the price of a 25-year annuity  is $845.64

Therefore it could be determined by applying the above formula so that the price could come

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since the options are not listed, when you are working on your budget you should also add water, tv, internet, miscellaneous and your 'fun' money for in your budget. when budgeting, you need to allow for fun money, and mis/accidental money so that you stick to the budget and not go crazy because you feel strapped to the budget.