Solved

Estimate the Present Value of an Annuity If Payments Are

Question 5

Multiple Choice

Estimate the present value of an annuity if payments are $700 monthly for 14 years and the account earns interest at the rate of 4% /year compounded continuously. Round your answer to the nearest dollar. ​


A) $85,725
B) $90,046
C) $91,280
D) $92,189

Correct Answer:

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