Problem: Your grandmother has agreed to send you $14,000 a year for 4 years to help finance your college education. What is the present value of this annuity at a discount rate of 10%? A) $34,816.60 B) $56,000.00 C) $55,600.00 D) $44,378.60

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Problem Details

Your grandmother has agreed to send you $14,000 a year for 4 years to help finance your college education. What is the present value of this annuity at a discount rate of 10%?

A) $34,816.60

B) $56,000.00

C) $55,600.00

D) $44,378.60

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