1. You are considering an annuity which costs $52200 today. The annuity pays $4500 a year. The rate of return is 7 percent. What is the length of the annuity time period?
2. What is meant by the term outsourcing? Is outsourcing beneficial or detrimental to a company? Explain. Provide examples supporting your position.
3. You will receive $20,000 in two years at graduation. You plan on investing it for the following 8 years and hope to double that amount. What rate per month must you earn?