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Find the Payment Made by the Ordinary Annuity with the Given

Question 95

Multiple Choice

Find the payment made by the ordinary annuity with the given present value.
-\$7 0,000 monthly payments for 33 years; interest rate is 5.4%5.4 \% compounded monthly.


A) $2,142,198.96\$ 2,142,198.96
B) $4,302,046.58\$ 4,302,046.58
C) $18,184,060.85\$ 18,184,060.85
D) $12,927,050.26\$ 12,927,050.26

Correct Answer:

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