Answered step by step
Verified Expert Solution
Question
1 Approved Answer
If a 45-year ordinary annuity has a present value of $119,524.00, and if the interest rate is 12.9 percent, what is the amount of each
If a 45-year ordinary annuity has a present value of $119,524.00, and if the |
interest rate is 12.9 percent, what is the amount of each annuity payment? |
Group of answer choices
$15,984
$16.484
$15,484
$16,884
$16,384
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started