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Find the Present Value of an Ordinary Annuity of $5,000

Question 158

Multiple Choice

Find the present value of an ordinary annuity of $5,000 payments each made annually over 6 years and earning interest at 9% per year compounded annually. ​


A) $7.52
B) $22,429.59
C) $37,616.67
D) $8,385.50

Correct Answer:

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