Ted Williams made deposits of $500 at the end of each year for eight years. The rate is 8% compounded annually. The value of Ted's annuity at the end of eight years is O $5,318.31 O $4,318.30 O $4,000 O $2,873.30

Ted Williams made deposits of $500 at the end of each year for eight years. The rate is 8% compounded annually. The value of Ted's annuity at the end of eight years is O $5,318.31 O $4,318.30 O $4,000 O $2,873.30

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 25P

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Question

Ted Williams made deposits of $500 at the end of each year for eight years. The
rate is 8% compounded annually. The value of Ted's annuity at the end of eight
years is
O $5,318.31
O $4,318.30
$4,000
O $2,873.30

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