Question: Circle the correct answer. 1. A 9-year annuity has a series of payments 1, 2, 3, 4, 5, 4, 3, 2, 1, with the first

Circle the correct answer. 1. A 9-year annuity has a series

Circle the correct answer. 1. A 9-year annuity has a series of payments 1, 2, 3, 4, 5, 4, 3, 2, 1, with the first payment today. The present value of the annuity is 16 at interest rate i. What is i? (A) 9.6% (B) 10.6% (C) 11.6% (D) 12.6% (E) 13.6%

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