Suppose an annuity will pay $12,000 at the beginning of each year for the next 10 years. How much money is needed to start this annuity if it earns 6.7%, compounded annually? Round your answer to the nearest cent.
A)$32,322.54
B)$52,923.34
C)$183,639.13
D)$91,190.40
E)$138,866.97

Question

Suppose an annuity will pay $12,000 at the beginning of each year for the next 10 years. How much money is needed to start this annuity if it earns 6.7%, compounded annually? Round your answer to the nearest cent. ​
A)$32,322.54
B)$52,923.34
C)$183,639.13
D)$91,190.40
E)$138,866.97

Quizplus · Accepted Answer

The Answer of Suppose an annuity will pay $12,000 at the beginning of each year for the next 10 years. How much money is needed to start this annuity if it earns 6.7%, compounded annually? Round your answer to the nearest cent. ​
A)$32,322.54
B)$52,923.34
C)$183,639.13
D)$91,190.40
E)$138,866.97

Suppose an Annuity Will Pay $12,000 at the Beginning of Each