1. Dayton Company is considering investing in an annuity contract that will return $29,300 annually at the end of each year for 15 years. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What amount should Dayton Company pay for this investment if it earns a 4% return?

2. Robertson Company receives a $73,400, 7-year note bearing interest of 6% (paid annually) from a customer at a time when the discount rate is 8%. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the present value of the note received by Robertson?

3.Elmdale Company is considering an investment that will return a lump sum of $762,300, 3 years from now. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What amount should Elmdale Company pay for this investment to earn a 9% return?

Factor Table:

TABLE 1 Future Value of 1 1.00000 00000 .00000 .00000 00000 .00000 .00000 .00000 1.00000 00000 1.04000 05000 .06000 .07000 08000 .09000 .10000 .11000 .12000 15000 1.08160 .10250 .12360 .14490 .16640 1.18810 1,21000 .23210 .25440 32250 1.12486 15763 1.19102 .22504 25971 29503 .33100 136763 1.40493 152088 1.16986 2155 .26248 .31080 .36049 1.4158 .46410 51807 .57352 74901 1.21665 27628 .33823 1.40255 46933 .53862 6105 .68506 1.762342.01136 1.26532 34010 1.41852 .50073 58687 .67710 1.77156 1.8704 97382 2.31306 1.31593 140710 50363 1.60578 71382 .82804 1.94872 2.07616 2.21068 2.66002 1.3685747746 1.59385 .71819 85093 .99256 2.14359 2.30454 2.47596 3.05902 14233 55133 168948 .83846 .99900 2.17189 2.35795 2.55803 2.77308 3.51788 1.48024 62889 1.79085 .96715 2.15892 2.36736 2.59374 2.83942 3.10585 4.04556 1.53945 71034 1.89830 2.10485 2.33164 2.58043 2.85312 3.15176 3.47855 4.65239 1.60103 79586 2.01220 2.25219 2.51817 2.81267 3.13843 3.49845 3.89598 5.35025 1.6650788565 2.13293 2.40985 2.71962 3.06581 3.45227 3.88328 4.36349 6.15279 1.73168 1.97993 2.26090 2.57853 2.93719 3.34173 3.79750 4.31044 4.887 7.07571 1.80094 2.07893 2.39656 2.75903 3.17217 3.64248 4.17725 4.78459 5.47357 8.13706 1.87298 2.18287 2.54035 2.95216 3.42594 3.9703 4.59497 5.31089 6.13039 9.35762 1.94790 2.29202 2.69277 3.15882 3.70002 4.32763 5.05447 5.89509 6.86604 10.76126 2.02582 2.40662 2.85434 3.37993 3.99602 4.71712 5.55992 6.54355 7.68997 12.37545 2.10685 2.52695 3.02560 3.61653 4.31570 5.14166 6.159 7.26334 8.61276 14.23177 2.19112 2.65330 3.20714 3.86968 4.66096 5.60441 6.72750 8.06231 9.64629 16.36654 9 12 15 1 6 3 20