Answer:
The time value, at the end of the fifth year, of a 5-year annuity that pays $200 every month, starting from the beginning of the second month, when the continuously compounded interest rate is 9.959%, is $11,828. To calculate this, we can use the formula A = PMT x [((1 + r)n - 1) / r], where PMT is the payment amount, r is the continuously compounded interest rate, and n is the number of payments. In this case, PMT = $200, r = 0.09959, and n = 60. Plugging these values into the formula, we get A = $200 x [((1 + 0.09959)60 - 1) / 0.09959] = $11,828.