Use the Ordinary Annuity Formula to Determine the Accumulated Amount

question 113

Multiple Choice

Use the ordinary annuity formula to determine the accumulated amount in the annuity. Round the answer to the nearest cent.
-$100 invested annually for 8 years at 9% interest compounded annually

• A) $2213.96
• B) $203.12
• C) $1102.85
• D) $920.04

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