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A 16-year annuity pays $1,700 per month, and payments are made at the end of each month. The interest rate is 15 percent compounded monthly
| A 16-year annuity pays $1,700 per month, and payments are made at the end of each month. The interest rate is 15 percent compounded monthly for the first five years and 13 percent compounded monthly thereafter. |
| What is the present value of the annuity? |
Multiple Choice
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$1,535,644.22
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$127,970.35
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$125,410.94
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$190,538.88
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$130,529.76
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Essential Retirement Planning For Solo Agers A Retirement And Aging Roadmap For Single And Childless Adults
Authors: Sara Zeff Geber
1st Edition
1633537684, 978-1633537682
