Assume you are to receive a 20-year annuity with annual payments of $50 . The first payment will be received at the end of Year 1, and the last payment will be received at the end of Year 20 . You will invest each payment in an account that pays 10 percent. What will be the value in your account at the end of Year 30?
a. $6,354.81
b. $7,427.83
c. $7,922.33
d. $8,591.00
e. $6,752.46
b
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