Garrett has an annuity that pays $2,460 at the beginning of each year. If the economy grows at a rate of 2.35% semiannually, what is the value of the annuity if he received it in a lump sum now rather than over a period of nine years? (2 points)
a
$40,168.22
b
$39,701.72
c
$20,084.11
d
$19,850.86

Question

Garrett has an annuity that pays $2,460 at the beginning of each year. If the economy grows at a rate of 2.35% semiannually, what is the value of the annuity if he received it in a lump sum now rather than over a period of nine years? (2 points)
 a
$40,168.22
 b
$39,701.72
 c
$20,084.11
 d
$19,850.86

JammarWalker · Answer

do you have any clue what the answer may be?

meseha · Answer

no :D

JammarWalker · Answer

$\color{#0cbb34}{\text{Originally Posted by}}$ @meseha
no :D
$\color{#0cbb34}{\text{End of Quote}}$
ok well use this FV = 2460((1+0.0235/2)^(2*9) - 1 )/( 0.0235/2 )