Marys grandmother wants to buy an annuity from met life, Finance Basics

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Marys grandmother wants to buy an annuity from met life

Question: Mary's grandmother wants to buy an annuity from Met Life that pays her $1300/month for 10 years. She and Met Life agree on an nominal interest rate of 4.1%. She wants $15,000 left at the end of the 10 years to leave to Mary. What should the annuity cost today? Make your answer positive, with no commas.

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Finance Basics: Marys grandmother wants to buy an annuity from met life

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