Multiple Choice
Joseph desires to purchase an annuity on January 1, 2010, that yields him five annual rents of $10, 000 each, with the first rent to be received on January 1, 2013.The interest rate is 10% compounded annually.The cost (present value) of the annuity on January 1, 2010, is
A) $31, 328.81
B) $34, 461.70
C) $37, 907.87
D) $48, 684.19
Correct Answer:
Verified
Correct Answer:
Verified
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