Christina will receive a 5-year annuity of $1,200 a year, with the first payment occurring at Date 4. What is the value of this annuity to her today at a discount rate of 7.25 percent? A. $4,111.08 B. $4,209.19 C. $4.774.04 D. $3,961.80 E. $4,887.48
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Christina will receive a 5-year
A. $4,111.08
B. $4,209.19
C. $4.774.04
D. $3,961.80
E. $4,887.48
The answer given is E, however, mine is D. Could you help me to explain this question?
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