Find the present value of a decreasing annuity necessary to fund withdrawals of $1,100 per month for 10 years, if the annuity earns 6% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent.
A)$94,738.99
B) $99,080.80
C) $97,153.15
D) $94,739.49
E) $95,628.67

Question

Find the present value of a decreasing annuity necessary to fund withdrawals of $1,100 per month for 10 years, if the annuity earns 6% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent. ​
A)$94,738.99
B) $99,080.80
C) $97,153.15
D) $94,739.49
E) $95,628.67

Quizplus · Accepted Answer

The Answer of Find the present value of a decreasing annuity necessary to fund withdrawals of $1,100 per month for 10 years, if the annuity earns 6% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent. ​
A)$94,738.99
B) $99,080.80
C) $97,153.15
D) $94,739.49
E) $95,628.67

Find the Present Value of a Decreasing Annuity Necessary to Fund