Find the Present Value of an Ordinary Annuity of $500

question 86

Multiple Choice

Find the present value of an ordinary annuity of $500 payments each made quarterly over 6 years and earning interest at 8% per year compounded quarterly. ​

• A) $5,264.38
• B) $2,311.44
• C) $9,456.96
• D) $24,968.07

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