What would be the present value of a yearly annuity of $105 per year for 10 years
Question:
What would be the present value of a yearly annuity of $105 per year for 10 years if the appropriate rate of interest is 7.5 percent per year and the first payment starts one year from today?
a. $720.73
b. $830.84
c. $840.85
d. $950.96
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