A. \$2475.14 B. $9900.57 C. $14850.85 D. \$ 14143.67 E. $7920.45

Problem 1. (10 points) An investor buys an annuity with payments of principal and interest of $400 per quarter for 15 years. Interest is at the effective rate of 8% per annum. How much interest does the investor receive in total over the 15-year period? A. $ 2475.14 o B. $ 9900.57 o c. $ 14850.85 o D. $ 14143.67 o E. $ 7920.45 o