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You bought an annuity selling at $16,788.11 today that promises to make equal payment at the beginning of each year for the next four years.
You bought an annuity selling at $16,788.11 today that promises to make equal payment at the beginning of each year for the next four years. If the annuity's appropriate interest rate remains at 11% during this time, then the value of the annual payment is
A.7068.75
B. 4,875.00
C.6,093.75
D.9,233.46
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Introduction To Finance Financial Management And Investment Management
Authors: Pamela P. Drake, Frank J. Fabozzi, Francesco A. Fabozzi
1st Edition
