What is the present value of an annuity of $120 received at the end of
What is the present value of an annuity of $120 received at the end of each year for 11 years?
Assume a discount rate of 7%. The first payment will be received one year from today (round to
nearest $1).
A) $570 B) $900 C) $400 D) $250
ANSWER
B
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