Multiple Choice
Calculate the annual cash flows of a $500,000, 12-year fixed-payment annuity earning a guaranteed 6 percent per year if annual payments are to begin at the end of the current year.
A) $59,638.51.
B) $56,262.75.
C) $29,819.26.
D) $83,841.52.
E) $28,131.37.
Correct Answer:
Verified
Correct Answer:
Verified
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