3-97 Calculate the annual cash flows of a $2 million,10-year fixed-payment annuity earning a guaranteed 8 percent per annum if annual payments are to begin at the end of year 6.
A) $218,973.21.
B) $202,752.97.
C) $343,321.86.
D) $405,505.95.
E) $437,946.42.
Correct Answer:
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