Lance Rice has decided to invest $1,200 quarterly for 8 years in an ordinary annuity at 4 percent. The total cash value of the annuity at end of year 8 is:

$46,642.80

$44,992.92

$46,246.80

$44,292.92

None of these

Question

Melvin Ponce

1 January, 23:58

+4

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Leland Cortez · Answer 1

If you invest $1,200 quarterly for 8 years at 4 percent interest, at the end of 8 years you will have $45997.42

Lance Rice has decided to invest $1,200 quarterly for 8 years in an ordinary annuity at 4 percent. The total cash value of the annuity at end of year 8 is:$46,642.80$44,992.92$46,246.80$44,292.92None of these