An annuity pays quarterly for 16 years at the beginning of each quarter. Payments during the first year are 250/quarter. Year 2 payments are each 105. The payments go up by 150 for each subsequent year but are level within each year. AEIR = 5%, please find the accumulated value of this annuity just prior to the payment at t=15. A. 156,104.12 B. The answer does not appear here C. 72,848.29 D. 79,798.78 E. 154,014.68

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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An annuity pays quarterly for 16 years at the beginning of each quarter. Payments during the first year
are 250/quarter. Year 2 payments are each 105. The payments go up by 150 for each subsequent year but
are level within each year. AEIR 5%, please find the accumulated value of this annuity just
prior to the payment at t=15.
=
A. 156,104.12
B. The answer does not appear here
C. 72,848.29
D. 79,798.78
E. 154,014.68
Transcribed Image Text:An annuity pays quarterly for 16 years at the beginning of each quarter. Payments during the first year are 250/quarter. Year 2 payments are each 105. The payments go up by 150 for each subsequent year but are level within each year. AEIR 5%, please find the accumulated value of this annuity just prior to the payment at t=15. = A. 156,104.12 B. The answer does not appear here C. 72,848.29 D. 79,798.78 E. 154,014.68
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