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Beatrice is considering investing in an annuity being offered by Kalaymyo Investments Ltd. The annuity will pay her $1,500 per month for 5 years. Beatrice
Beatrice is considering investing in an annuity being offered by Kalaymyo Investments Ltd. The annuity will pay her $1,500 per month for 5 years. Beatrice is trying to work out how much this annuity is worth. She thinks she should receive a return equivalent to a nominal interest rate of 6.8% per annum, compounding quarterly. What is the value of this annuity to Beatrice? Select one:
a. $76,184.59
b. $78,954.81
c. $70,985.15
d. $75,285.77
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