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Find the Payment That Should Be Used for the Annuity 3.2%3.2 \%

Question 124

Multiple Choice

Find the payment that should be used for the annuity due whose future value is given. Assume that the compoundingperiod is the same as the payment period.
-$2 000; quarterly payments for 8 years; interest rate 3.2%3.2 \% .


A) $16.86\$ 16.86
B) $9.24\$ 9.24
C) $35.64\$ 35.64
D) $54.65\$ 54.65

Correct Answer:

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