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Q4 What amount comes closest to the future value, at the end of year 20, of a 15 year annuity of $550 that makes its
Q4
- What amount comes closest to the future value, at the end of year 20, of a 15 year annuity of $550 that makes its first payment at the end of year 6? Use an interest rate of 3%.
a.$ 11,868
b.$ 13,821
c.$ 12,802
d.$ 11,013
e.$ 10,229
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Smith and Roberson Business Law
Authors: Richard A. Mann, Barry S. Roberts
15th Edition
978-0538473637
