Multiple Choice
What is the present value of an annuity of $120 received at the end of each year for 11 years? Assume a discount rate of 7%.The first payment will be received one year from today (round to nearest $1) .
A) $250
B) $400
C) $570
D) $900
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q24: How much money must be put into
Q25: In order to send your first child
Q26: A bond matures in 20 years,at which
Q27: Your grandparents deposit $2,000 each year on
Q28: You are going to pay $800 into
Q30: You charged $1,000 on your credit card
Q31: How much would you be willing to
Q32: You inherit $300,000 from your parents and
Q33: It is never appropriate to compare nominal
Q34: Your daughter is born today and you