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1718 (Present value of an annuity) What is the present value of a( n)14-year annuity that pays $1,000 annually, given a discount rate of 12
1718
(Present value of an annuity) What is the present value of a( n)14-year annuity that pays $1,000 annually, given a discount rate of 12 percent? The present value of the annuity is $. (Round to the nearest cent.) (Annuity interest rate) You've been offered a loan of $15,000, which you will have to repay in 14 equal annual payments of $3,000, with the first payment due one year from now. What interest rate would you pay on that loan? The interest rate you would pay on the loan is \%. (Round to two decimal places.)Step by Step Solution
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