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Given the Time-Value of Money of 11% Compounded Annually, Calculate

Question 109

Multiple Choice

Given the time-value of money of 11% compounded annually, calculate the size of the month-end payments for the next five years that would be equivalent to a single payment of $13,285 payable five years from now.


A) $285.42
B) $221.42
C) $169.39
D) $177.76
E) $299.54

Correct Answer:

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