What is the PV of an annuity due with 10 payments of $2,700 at an interest rate of 6.5%?

A) $20,671.48
B) $21,705.06
C) $22,790.31
D) $23,929.82

Annuity Due

A series of equal payments made at the beginning of consecutive periods over a fixed length of time.

Interest Rate

The cost incurred by a borrower from a lender for the use of assets, represented as a proportion of the principal.

Payments

Transactions or transfers of money from one party to another, often in exchange for goods or services.