Question
3) What is the future value of a 46-year annuity that pays $101 each year if the first payment is made today and the interest
3)What is the future value of a 46-year annuity that pays $101 each year if the first payment is made today and the interest rate is 3 percent, annually compounded? Round your answer to the nearest cent.
4)What is the present value of a perpetuity that makes an annual payment of $92 per year forever, if the applicable interest rate is 5.7 percent, annually compounded?Round your answer to the nearest cent.
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Financial and Managerial Accounting the basis for business decisions
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
16th edition
0077664078, 978-0077664077, 78111048, 978-0078111044
