Find the Present Value of a Decreasing Annuity Necessary to Fund

question 52

Multiple Choice

Find the present value of a decreasing annuity necessary to fund withdrawals of $1,100 per month for 10 years, if the annuity earns 6% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent. ​

• A)$94,738.99
• B) $99,080.80
• C) $97,153.15
• D) $94,739.49
• E) $95,628.67

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