Ed Sloan Invests $1,600 at the Beginning of Each Year

question 35

Multiple Choice

Ed Sloan invests $1,600 at the beginning of each year for eight years into an account that pays 10% compounded semiannually. The value of the annuity due is (use the tables in the handbook) :

• A)$41,344.48
• B)$1,600.00
• C)$38,744.48
• D)$37,744.48
• E)None of these

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