You are going to pay $100 into an account at the beginning of each of the next 40 years.At the beginning of the 41st year you buy a 30 year annuity whose first payment comes at the end of the 41st year (the accounts earn 12%).How much will you receive at the end of the 41st year (i.e.,the first annuity payment).Round to nearest $100.
A) $93,000
B) $7,800
C) $11,400
D) $10,700

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The Answer of You are going to pay $100 into an account at the beginning of each of the next 40 years.At the beginning of the 41st year you buy a 30 year annuity whose first payment comes at the end of the 41st year (the accounts earn 12%).How much will you receive at the end of the 41st year (i.e.,the first annuity payment).Round to nearest $100.
A) $93,000
B) $7,800
C) $11,400
D) $10,700

You Are Going to Pay $100 into an Account at the Beginning