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Mrs Leary Set Up an Investment Program Using an Annuity

Question 11

Multiple Choice

Mrs. Leary set up an investment program using an annuity due with payments of $500 at the beginning of each month. What is the amount of the annuity if she makes payments for 3 years in an account paying 12% compounded monthly? Mrs. Leary set up an investment program using an annuity due with payments of $500 at the beginning of each month. What is the amount of the annuity if she makes payments for 3 years in an account paying 12% compounded monthly? A) $21,538.44 B) $21,753.83 C) $22,253.83 D) $22,753.83


A) $21,538.44
B) $21,753.83
C) $22,253.83
D) $22,753.83

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