Multiple Choice
George Jones is planning on a cruise for his 70th birthday party. He wants to know how much he should set aside at the beginning of each month at 6% interest to accumulate the sum of $4,800 in five years. He should use a table for the:
A) Future value of an ordinary annuity of $1.
B) Future value of an annuity due of $1.
C) Future value of $1.
D) Present value of an annuity due of $1.
Correct Answer:
Verified
Correct Answer:
Verified
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