An annuity pays $49 per year for 13 years. What is the future value(FV) of this annuity at the end of those 13 years, given that the discount rate is 8%
a. $631.96
b. $1,474.58
c. $1,053.27
d. $1,263.92
Answer: Option c is correct
After entering the given values in excel, we get the value as $1053.27
An annuity pays $49 per year for 13 years. What is the future value(FV) of this...
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