Multiple Choice
Find the present value of a 5-year annuity due if the annual payments are $600 and the interest rate is 11%.How much larger is the present value of the annuity due than the present value of the ordinary 5-year annuity?
A) $243.93
B) $204.76
C) $279.22
D) $261.32
E) $227.45
Correct Answer:
Verified
Correct Answer:
Verified
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