Answer:
Option A is correct, i.e. n = 360.
Step-by-step explanation:
Given the monthly payments are made for 30 years.
We know 1 year = 12 months. It means they paid 12 installments in a year and they paid it for complete 30 years.
So, total installments = 12 installments in a year x 30 years = 360 installments.
Therefore, the value for n in the following future value ordinary annuity formula would be 360.
Hence, option A is correct, i.e. n = 360.
