Estimate the Present Value of an Annuity If Payments Are

question 168

Multiple Choice

Estimate the present value of an annuity if payments are $500 monthly for 19 years and the account earns interest at the rate of 8% / year compounded continuously. Round your answer to the nearest dollar.

• A) $56,454
• B) $57,363
• C) $62,918
• D) $58,597

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