A 15-payment annual annuity has its first payment in nine years. If the payment amount is $1,400 and the interest rate is 7 percent,what is the most you should be willing to pay today for this investment?
A)$6,416.67
B)$12,751.08
C)$6,935.74
D)$5,825.11
E)$7,421.24

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The Answer of A 15-payment annual annuity has its first payment in nine years. If the payment amount is $1,400 and the interest rate is 7 percent,what is the most you should be willing to pay today for this investment?
A)$6,416.67
B)$12,751.08
C)$6,935.74
D)$5,825.11
E)$7,421.24

A 15-Payment Annual Annuity Has Its First Payment in Nine