Question: Lois is purchasing an annuity that will pay $5,000 annually for 20 years, with the first annuity payment made on the date of purchase. What

Lois is purchasing an annuity that will pay $5,000 annually for 20 years, with the first annuity payment made on the date of purchase. What is the value of the annuity on the purchase date given a discount rate of 7 percent?

Lois is purchasing an annuity that will pay $5,000 annually for 20

$66,916.21

years, with the first annuity payment made on the date of purchase.

$52,970.07

What is the value of the annuity on the purchase date given

$56,677.98

a discount rate of 7 percent? $66,916.21 $52,970.07 $56,677.98 $54,282.98 $56,191.91

$54,282.98

image text in transcribed

$56,191.91

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