Question
An ordinary annuity of $650 per period, discounted at a rate of 6% per period for four periods, has a present value of $2,252. If
An ordinary annuity of $650 per period, discounted at a rate of 6% per period for four periods, has a present value of $2,252. If the same annuity was an annuity due, what would its present value be?
a. $2,767
b. $2,252
c. $2,387
d. $2,902
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Contemporary Financial Management
Authors: R. Charles Moyer, James R. McGuigan, Ramesh P. Rao
13th edition
1285198840, 978-1285198842
