Business, 10.06.2021 17:20, dundiedoo7196

Jeff and John shared equally in an inheritance. Using his inheritance, John immediately bought a 10-year annuity-due with annual payments of 2500 each Jeff put his inheritance in an investment fund earning an annual effective interest rate of 9%. Two years later, Jeff bought a 15-year annuity-immediate with annual payment of Z. The present value of both annuities was determined using an annual effective interest rate of 8% Calculate Z. [SOA I1/96 84] (A) 2330
(B) 2470
(C) 2515
(D) 2565 2715

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Jeff and John shared equally in an inheritance. Using his inheritance, John immediately bought a 10-...