Question

Under a contract we will receive $12,000 per year for ten years. Starting today, if we invest this annuity each year at an interest rate of 24 percent, compounded annually, which of the following is the value of the principal plus interest in ten years?
A. $120,000
B. $195,909
C. $212,990
D. $248,798
E. $379,721

Answer

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