Hillary Jones Wants to Know How Much She Must Deposit

question 39

Multiple Choice

Hillary Jones wants to know how much she must deposit today at 12% interest to provide three equal annual withdrawals of $10, 000, beginning one year from now.This is an example of the present value of

• A)an ordinary annuity
• B)an annuity due
• C)a single sum
• D)a deferred annuity

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