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If a 5-Year Regular Annuity Has a Present Value of $1,000,and

Question 107

Multiple Choice

If a 5-year regular annuity has a present value of $1,000,and if the interest rate is 10 percent,what is the amount of each annuity payment?

A) $240.42
B) $263.80
C) $300.20
D) $315.38
E) $346.87

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