Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Oct 19, 2024

A series of equal quarterly receipts of $1000 extends over a period of 5 years. What is the present worth of this quarterly payment series

A series of equal quarterly receipts of $1000 extends over a period of 5 years. What is the present worth of this quarterly payment series at 8% interest, compounded continuously?

The answer is 16,320. Please show work as to how you get the answer.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Finance

Authors: Jeff Madura, Hardeep Singh Gill

3rd Canadian Edition

978-0133035575, 133035573, 978-0133970524, 133970523, 978-0134040042

More Books

Students also viewed these Finance questions

Question

★★★★★

JRC Trading Corp (JRC) bought computer software and hardware from Progressive Data Systems (PDS) for $167,935, which it paid in full, to track movement of its trucks with inventory and to process...

Answered: 1 week ago

Question

★★★★★

personnel assigned to begin depolyment of the TRUC to operational commands receive what type of training

Answered: 1 week ago

Question

★★★★★

3. If you were in a position to advise a Western company that was considering doing business in Saudi Arabia for the first time, what would your advice be?

Answered: 1 week ago

Question

★★★★★

The Polishing Department of Estaban Manufacturing Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production:...

Answered: 1 week ago

Question

★★★★★

A series of equal quarterly receipts of $1000 extends over a period of 5 years. What is the present worth of this quarterly payment series at 8% interest, compounded continuously? The answer is...

Answered: 1 week ago

Question

★★★★★

Which of the following ciphers is / are stream cipher? Question 1 options: Enigma Casear Rotor Auto - key One - time pad Playfair

Answered: 1 week ago

Question

★★★★★

At January 1, 2024, Cafe Med leased restaurant equipment from Crescent Corporation under a nine-year lease agreement. - The lease agreement specifies annual payments of $24,000 beginning January...

Answered: 1 week ago

Question

★★★★★

The Great Falls Cheese Company wants to determine how well it estimated its Direct Material costs by comparing the standards it predicted to actual data. Great Falls has the following standards:...

Answered: 1 week ago

Question

★★★★★

You are running a colleague test with your coworkers. One coworker points out that your data has limitations. What can you do to prepare to explain the limitations of your data? Select all that...

Answered: 1 week ago

Question

★★★★★

The government of Freedonia would like to reduce drug consumption. It therefore plans to impose a penalty for illegal drugs however government members are conflicted as to whether the penalty should...

Answered: 1 week ago

Question

★★★★★

For the following Data : 1000 , 1500 , 1750 , 15000 , 10000 Find Mean( X ) , Median , Mode , Range, Mean Deviation (MD), and Standard Deviation (SD).

Answered: 1 week ago

Previous Question Next Question