10
QuizMultiple Choice

Topic Test

Question 10 • FT GMS AMDM B IC – 72

As part of your retirement plan, you want to set up an annuity in which a regular payment of $80,121 is made at the end of each year. You need to determine how much money must be deposited earning 10% compounded annually in order to make the annuity payment for 20 years. Round your answer to the nearest cent.a.$680,153.78c.$682,115.24b.$681,426.87d.$683,759.64

Answer
A
A
B
B
C
C
D
D
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As part of your retirement plan, you want to set…