Suppose an Annuity Will Pay $12,000 at the Beginning of Each

question 13

Multiple Choice

Suppose an annuity will pay $12,000 at the beginning of each year for the next 10 years. How much money is needed to start this annuity if it earns 6.7%, compounded annually? Round your answer to the nearest cent. ​

• A)$32,322.54
• B)$52,923.34
• C)$183,639.13
• D)$91,190.40
• E)$138,866.97

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