Tamaya purchased an ordinary annuity that earns 3.5% interest. She will receive 20 payments of $700, once a quarter over 5 years. What is the present value of the annuity? O $14,490.00 O $15,227.18 O $3,160.54 O $12,792.30

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Tamaya purchased an ordinary annuity that earns 3.5% interest.
She will receive 20 payments of $700, once a quarter over 5
years.
What is the present value of the annuity?
O $14,490.00
O $15,227.18
O $3,160.54
O $12,792.30
Transcribed Image Text:Tamaya purchased an ordinary annuity that earns 3.5% interest. She will receive 20 payments of $700, once a quarter over 5 years. What is the present value of the annuity? O $14,490.00 O $15,227.18 O $3,160.54 O $12,792.30
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