Question
Calculate the present value of the following: a-1. Annual payment of $1,225 for 10 years at 5% interest. Note: Do not round intermediate calculations. Round
Calculate the present value of the following:\ a-1. Annual payment of
$1,225
for 10 years at
5%
interest.\ Note: Do not round intermediate calculations. Round your answer to 2 decimal places. a-2. Annual payment of
$1,025
for 15 years at
5%
interest.\ Note: Do not round intermediate calculations. Round your answer to 2 decimal places. a-3. Which option would you prefer?\ b-1. Annual payment of
$1,225
for 10 years at
20%
interest.\ Note: Do not round intermediate calculations. Round your answer to 2 decimal places. b-2. Annual payment of
$1,025
for 15 years at
20%
interest.\ Note: Do not round intermediate calculations. Round your answer to 2 decimal places. b-3. Which option would you prefer?\ \\\\table[[a-1. Present value,],[a-2. Present value,],[a-3. Which option would you prefer?,],[b-1. Present value,],[b-2. Present value,],[b-3. Which option would you prefer?,]]
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