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Constant Annual Payment Amount Assignment

Author:
February 18th, 2020

When the interest rate is a constant 10% p.a., an annuity with 25 constant annual payments has a future value of $49,173.53 at the last payment. What is the constant annual payment amount?

$450.38
$500.00
$1,000.00
$1,966.94
Cannot be determined, insufficient information

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