Multiple Choice
Find the present value of a decreasing annuity necessary to fund withdrawals of $1,100 per month for 10 years, if the annuity earns 6% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent.
A) $94,738.99
B) $99,080.80
C) $97,153.15
D) $94,739.49
E) $95,628.67
Correct Answer:
Verified
Correct Answer:
Verified
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