Multiple Choice
George Jones is planning on a cruise for his 70th birthday party.He wants to know how much he should set aside at the beginning of each month at 6% interest to accumulate the sum of $4,800 in five years.He should use a table for the:
A) Future value of an ordinary annuity of 1.
B) Future value of an annuity due of 1.
C) Future value of 1.
D) Present value of an annuity due of 1.
Correct Answer:
Verified
Correct Answer:
Verified
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