# At the beginning of each year, Jerome invests \$1,400 semiannually at 8% for nine years. Using the tables found in the textbook, determine the cash value of the annuity due at the end of the ninth year.    A. \$37,939.86B. \$37,339.68C. \$37,399.68D. \$38,739.68

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At the beginning of each year, Jerome invests \$1,400 semiannually at 8% for nine years. Using the tables found in the textbook, determine the cash value of the annuity due at the end of the ninth year.

 A. \$37,939.86 B. \$37,339.68 C. \$37,399.68 D. \$38,739.68
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Step 1

Annuity due refers to repeating payments that are made at the beginning of each period. We can determine the cash value of the annuity due at the end of the ninth year using the steps below:

Step 2
Step 3

Determination of cash value of annuity due us...

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