Invest an annual annuity, Sam invests the amount of $22,750

Invest an annual annuity

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Reference no: EM13810279

Sam invests the amount of $22,750 in the bank today and, in addition, starting a year from today, she will invest an annual annuity of $21,950 for 17 consecutive years. Which of the following comes closest to the value of these investments at the end of year 17 if the interest rate is 11.1%?

a. $712,554

b. $911,229

c. $614,569

d. $1,245,666

e. $1,122,159

Reference no: EM13810279

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