5-38B. (Present value ofan annuity) Determine the present value of an annuity due of $1 ,000 per...

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5-38B. (Present value ofan annuity) Determine the present value of an annuity due of $1 ,000 per year for 15 years discoW1ted back to the present at an annual rate of 12 percent. What would be the present value of this annuity due if it were discounted at an annual rate of 15 percent?

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Financial Management Principles And Applications

ISBN: 9780131450653

10th Edition

Authors: Arthur J. Keown, J. William Petty, John D. Martin, Jr. Scott, David F.

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