What Is the Present Value of an Ordinary Annuity of $1550

question 45

Multiple Choice

What is the present value of an ordinary annuity of $1550 each year for 15 years, with an interest rate of 6.6 percent per annum?

• A)$17 589
• B)$16 500
• C)$14 481
• D)$10 500

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Definitions:

Primary Caregiver

The main person responsible for providing care and support to a dependent individual, often a child or elderly person.

Depressed

Experiencing a persistent feeling of sadness and loss of interest, which can affect one's ability to function daily.

Exhausted

A state of extreme physical or mental fatigue, often resulting from strenuous activity or lack of sleep.

Caregiving

The act of providing care and support to another individual, often a family member or patient with special needs.