An Annuity Pays $10 Per Year for 98 Years

question 18

Multiple Choice

An annuity pays $10 per year for 98 years. What is the present value (PV) of this annuity given that the discount rate is 7%?

• A) $85.60
• B) $171.20
• C) $142.67
• D) $199.74

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