Tammy Wants to Buy a Car That Costs $10,000 and Wishes

Multiple Choice

Tammy wants to buy a car that costs $10,000 and wishes to know the amount of the monthly payments, which will be made at the first of the month, with interest of 12% on the unpaid balance. She should use a table for the:

A) Present value of $1.
B) Present value of an ordinary annuity of $1.
C) Present value of an annuity due of $1.
D) Future value of an annuity due of $1.