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Find the Present Value of an Ordinary Annuity of $150

Question 30

Multiple Choice

Find the present value of an ordinary annuity of $150 payments each made monthly over 10 years and earning interest at 4% per year compounded monthly. ​


A) $3,716.11
B) $14,815.53
C) $312.50
D) $1,216.63

Correct Answer:

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