An Annuity Pays $50 Per Year for 20 Years

question 12

Multiple Choice

An annuity pays $50 per year for 20 years.What is the future value (FV) of this annuity at the end of those 20 years,given that the discount rate is 7%?

• A)$326.44
• B)$684.76
• C)$1524.24
• D)$2049.77

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