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Mark Invests in a 10-Year Annuity with an Initial Payment

Question 21

Multiple Choice

Mark invests in a 10-year annuity with an initial payment of $20,000,that grows at 4% per year.What is the future value of this annuity,if the interest rate is 8%?


A) $200,000
B) $339,340.36
C) $157,180.24
D) $162,217.92
E) $350,216.31

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