Find the Present Value of the Decreasing Annuity Necessary to Fund

question 10

Multiple Choice

Find the present value of the decreasing annuity necessary to fund a withdrawal of $1,500 per quarter for 20 years, if the annuity earns 3% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent. ​

• A)$90,125.41
• B) $90,765.53
• C) $89,965.31
• D) $90,204.49
• E) $89,991.66

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