An investor is to receive a 15-year $8,000 annuity, the first payment to be received today. At an 11% discount rate, this annuity's worth today is closest to: a. $55,855 b. $57,527 c. $63,855 d. $120,000

Advanced Engineering Mathematics
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ISBN:9780470458365
Author:Erwin Kreyszig
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Chapter2: Second-order Linear Odes
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An investor is to receive a 15-year $8,000 annuity, the first payment to be received today. At an 11% discount rate, this annuity's worth today is closest to: a. $55,855 b. $57,527 c. $63,855 d. $120,000
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