Multiple Choice
Vince has $35,000 to purchase an annuity that will provide him with equal payments at the end of every three months for the next six years. If the funds earn 8% compounded quarterly, what is the size of the quarterly payments he will receive?
A) $2,335
B) $1,850
C) $3,734
D) $3,324
E) $7,571
Correct Answer:
Verified
Correct Answer:
Verified
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