Mrs Leary Set Up an Investment Program Using an Annuity

question 28

Multiple Choice

Mrs. Leary set up an investment program using an annuity due with payments of $500 at the beginning of each month. What is the amount of the annuity if she makes payments for 3 years in an account paying 12% compounded monthly?

• A) $21,538.44
• B) $21,753.83
• C) $22,253.83
• D) $22,753.83

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Future earnings or revenue streams anticipated or planned for in subsequent periods of time.

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