Wing Sze has a 17 year annuity due making annual payments that grow geometrically at the rate 3.250%. The first payment is $1,000.00 and the interest rate is i(52) = 10.000%$. What is the present value of her annuity?
Question 1Answer
a.
Q = $10,533.40
b.
Q = $10,429.11
c.
Q = $10,324.81
d.
Q = $10,741.98
e.
Q = $10,011.94