The Future Value of an Ordinary Annuity Paying $1000 for 20

question 54

Multiple Choice

The future value of an ordinary annuity paying $1000 for 20 years at an interest rate of 7% per annum is:

• A)$10 594.01.
• B)$40 995.49.
• C)$38 992.10.
• D)$42 300.74.

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