Question
A 6-year annuity of twelve $8,600 semiannual payments will begin 9 years from now, with the first payment coming 9.5 years from now. If the
| A 6-year annuity of twelve $8,600 semiannual payments will begin 9 years from now, with the first payment coming 9.5 years from now. |
| If the discount rate is 15 percent compounded monthly, what is the value of this annuity five years from now? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
| Value of the annuity | $ |
| If the discount rate is 15 percent compounded monthly, what is the value three years from now? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
| Value of the annuity | $ |
| If the discount rate is 15 percent compounded monthly, what is the current value of the annuity? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
| Value of the annuity | $ |
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Fundamentals Of Financial Management
Authors: James C. Van Horne
10th Edition
0138596875, 978-0138596873
