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What is the future value of a twenty-year ordinary annuity with annual payments of $100,000 if the appropriate rate for the calculations is 6.5%? Assume

What is the future value of a twenty-year ordinary annuity with annual payments of $100,000 if the appropriate rate for the calculations is 6.5%? Assume that the first period of the annuity begins today.

Select one:

a. $ 4,000,000

b. $ 3,882,531

c. $ 4,086,841

d. $ 3,694,831

e. None of the above

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