Multiple Choice
The present value of an annuity that pays $1 million per year for n years,is $9 million.If the interest rate is 5% per annum,n is approximately equal to how many years?
A) 45 years
B) 8 years
C) 11 years
D) 16.5 years
E) 12.25 years
Correct Answer:
Verified
Correct Answer:
Verified
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