Mary has set up an ordinary annuity to save for her retirement in 18 years. If her monthly payments are $200, and the annuity has an interest rate of 5.45% (compounded monthly), find the present value of the annuity.

Question 19 options:

$195,569.40

$47,640.07

$43,396.20

$27,489.04

$73,153.98