An Annuity Pays $13 Per Year for 53 Years

question 29

Multiple Choice

An annuity pays $13 per year for 53 years. What is the future value (FV) of this annuity at the end of that 53 years given that the discount rate is 9%?

• A) $8258.91
• B) $16,517.82
• C) $19,270.79
• D) $13,764.85

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