Interest factor for the future value of an ordinary annuity

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Reference no: EM13909087

The interest factor (IF) for the future value of an ordinary annuity is 4.641 at 10% for four years. If we wish to accumulate $8,000 by the end of four years, how much should the annual payments be?

$2,500

$2,000

$1,724

None of these options

Reference no: EM13909087

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