If a 5-Year Regular Annuity Has a Present Value of $1,000,and

question 107

Multiple Choice

If a 5-year regular annuity has a present value of $1,000,and if the interest rate is 10 percent,what is the amount of each annuity payment?

• A) $240.42
• B) $263.80
• C) $300.20
• D) $315.38
• E) $346.87

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Definitions:

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