You Start an Annuity with $1million and Expect to Receive

question 79

Multiple Choice

You start an annuity with $1million and expect to receive 12 equal payments beginning at the end of the first year.The guaranteed annual interest rate is 6 percent.The annual payments that you expect to collect are

• A)$88,333.33.
• B)$119,277.03.
• C)$59,638.51.
• D)$56,262.75.
• E)$112,525.50.

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Definitions:

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