Question
An ordinary annuity selling at $5,000 today promises to make equal payments at the end of each year for the next four years. If the
An ordinary annuity selling at $5,000 today promises to make equal payments at the end of each year for the next four years. If the annuity's appropriate interest rate remains at 6% during this time, how much will be the annual annuity payment?
| A. | $1,542.96 | |
| B. | $1,742.96 | |
| C. | $1,642.96 | |
| D. | $1,442.96 |
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Risk Management And Financial Institutions
Authors: John Hull
1st Edition
0132397900, 9780132397902
