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You invest $12,902 in an annuity contract that earns 10% Interest, compounded annually. You are to receive annual payments for the next ten years. How

You invest $12,902 in an annuity contract that earns 10% Interest, compounded annually. You are to receive annual payments for the next ten years. How much will each of the payments be? (Future Value of $1. Present Value of $1. Future Value Annuity of $1. Present Value Annuity of $1.) (Use appropriate factor from the PV tables. Round your final answer to the nearest dollar amount.) Multiple Choice $1559 $2,100 $1,290 $1,549

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