Compute the present value of an ordinary annuity that pays $13,000 per year for 15 years at 10%.
A) $98,878
B) $99,745
C) $97,578
D) $100,178
A) $98,878
Explanation: Annuity 13,000
Present value Factor 7.606
Present value ($13,000 × 7.606) $98,878
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