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Connor has $450,000 to invest in a 5-year annuity. Assuming the time value of money...

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Accounting

Connor has $450,000 to invest in a 5-year annuity. Assuming the time value of money is 12%, what amount will Connor receive in cash each year? (PV of $1 and PVA of $1) Note: Use appropriate factor(s) from the tables provided. Do not round your PV factors. Round your answer to the nearest dollar.

Multiple Choice

$90,000

$97,200

$124,834

None of these answers are correct.

Answer & Explanation Solved by verified expert
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