Kizspy | Question: 29 (Choose 1 answer)
Cony must pay a creditor $100 one year from now, $200 two years from now, $300 three years now, $400four years from now. Cony would like to restructure the loan into four equal payments due at the end of each year. If the agreed upon interest rate is 8% compounded annually, what is the payment?
A. $176.70
B. $240.40
C. $796.22
D. None is correct
