Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Based on the following table, what is the present value of an annuity which pays $7900 a year for 8 years, at a discount rate

image text in transcribed
Based on the following table, what is the present value of an annuity which pays $7900 a year for 8 years, at a discount rate of 4%? (Two decimal places.) Period 1% 2% 3% 4% 1 0.990099 0.980392 0.970874 0.961538 2 1.970395 1.941561 1.913470 1.886095 3 2.940985 2.883883 2.828611 2.775091 4 3.901966 3.807729 3.717098 3.629895 5 4.853431 4.713460 4.579707 4.451822 6 5.795476 5.601431 5.417191 5.242137 7 6.728195 6.471991 6.230283 6.002055 8 7.651678 7.325481 7.019692 6.732745 9 8.566018 8.162237 7.786109 7.435332 10 9.471305 8.982585 8.530203 8.110896

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_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

Lawyers And The Proceeds Of CrimeThe Facilitation Of Money Laundering And Its Control

Authors: Katie Benson

1st Edition

1138744867, 9781138744868

More Books

Students also viewed these Accounting questions