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Use the following 7% interest factors. Present Value of Ordinary Annuity Future Value of Ordinary Annuity 7 periods 5.3893 8.65402 8 periods 5.9713 10.25980 9

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Use the following 7% interest factors. Present Value of Ordinary Annuity Future Value of Ordinary Annuity 7 periods 5.3893 8.65402 8 periods 5.9713 10.25980 9 periods 6.5152 11.97799 If $22500 is deposited annually starting on January 1, 2020 and it earns 7%, what will the balance be on December 31, 2027? O $194716 O $247005 O $230846 O $208346

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