Math Problem?

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The future value of an annuity is A=$32,000. Periodic payments are made quarterly for 4 years and the annuity earns 8% compounded quarterly. Find the periodic payments?
a. $422.40
b. $1,716.80
c. $2,000
d. $2,160

2007-09-15 04:04:05 · 1 answers · asked by Anonymous in Science & Mathematics ➔ Mathematics

1 answers

It's got to be a

if you earned 8% on $32,000 => periodic payments of $640. The answer must be less.

2007-09-15 04:20:38 · answer #1 · answered by Beardo 7 · 0⤊ 0⤋