Johnson Has an Annuity Due That Pays $600 Per Year

question 75

Multiple Choice

Johnson has an annuity due that pays $600 per year for 15 years.(Note: There are 15 annual cash flows with the first cash flow occurring today.) What is the value of the cash flows 14 years from today (immediately after the last deposit is made) if they are placed in an account that earns 7.50%?

• A)$9,000.00
• B)$9,675.00
• C)$15,671.02
• D)$16,846.35

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