3 - Suppose payments will be made for 9 yr at the end of each month into an ordinary annuity earning interest at the rate of 6.55%/year compounded monthly. If the present value of the annuity is $45,000, what should be the size of each payment? Please round the answer to the nearest cent. a. $522.51 b. $543.89 C. $506.51 d. $515.64 e. $521.43

Suppose payments will be made for 943yr at the end of each month into an ordinary annuity earning interest at the rate of 6.55% /year compounded monthly. If the present value of the annuity is $45,000, what should be the size of each payment? Please round the answer to the nearest cent. a. $522.51 b. $543.89 c. $506.51 d. $515.64 e. $521.43