Ian deposits $2,400 each quarter for 3 years. The annuity earns 10% interest and is compounded quarterly....

22. Ian deposits $2,400 each quarter for 3 years. The annuity earns 10% interest and is compounded quarterly. Find the present value of the annuity.
Using the Present Value of Ordinary Annuity Table, the correct factor for 12 compounding periods at 2.5% interest is 10.25776.
$24,618.62
$6,859.25
$10,257.76
$16,352.86