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Category > Business & Finance Posted 03 Jun 2017 My Price 12.00

.You have been hired by a company

.You have been hired by a company to manage its pension fund obligations. You estimate that the firm will have an obligation to pay out a lump sum of $10 million in 10 years. The interest rate that you can make on your investments currently is 8%.

a. How much would you need to set aside an annuity each year for the next ten years to get to $10 million ? ( 1 point)

b. Assume that you set aside the annuity in (a) each year for the next five years and that the interest rate then drops from 8% to 6% after year 5. How much more (or less) would you need to set aside each year over the remaining five years to have $10 million at the end of year 10? (3 points

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Status NEW Posted 03 Jun 2017 10:06 AM My Price 12.00

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