If a $5-$year regular annuity has a present value of $$1,000,$ and if the interest rate is $10\%,$ what is the amount of each annuity payment?

Responses

$$263\mathrm{.}80$

$$263\mathrm{.}80$

$$240\mathrm{.}42$

$$240\mathrm{.}42$

$$300\mathrm{.}20$

$$300\mathrm{.}20$

$$315\mathrm{.}38$

$$315\mathrm{.}38$

$$346\mathrm{.}87$

$$346\mathrm{.}87$