Annuity Problem As part of his retirement planning, your uncle has been offered a security that promises to pay $50,000 at the end of each of the…

Annuity Problem

As part of his retirement planning, your uncle has been offered a security that promises to pay $50,000 at the end of each of the next 20 years. If the interest rates is 6%, how much should he be willing to pay for this security?

Value of the Security =