Multiple Choice
How much must be invested today in order to generate a five-year annuity of $1,000 per year, with the first payment one year from today, at an interest rate of 12 percent?
A) $3,604,78
B) $3,746.25
C) $4,037.35
D) $4,604.78 PV =
Correct Answer:
Verified
Correct Answer:
Verified
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