Question
Calculate the present value of the following annuity streams: a. $6,000 received each year for 6 years on the last day of each year if
| Calculate the present value of the following annuity streams: |
| a. | $6,000 received each year for 6 years on the last day of each year if your investments pay 6 percent compounded annually. (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16)) |
| Present value | $ |
| b. | $6,000 received each quarter for 6 years on the last day of each quarter if your investments pay 6 percent compounded quarterly. (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16)) |
| Present value | $ |
| c. | $6,000 received each year for 6 years on the first day of each year if your investments pay 6 percent compounded annually. (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16)) |
| Present value | $ |
| d. | $6,000 received each quarter for 6 years on the first day of each quarter if your investments pay 6 percent compounded quarterly. (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16)) |
| Present value | $ |
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
Making Sense Of School Finance
Authors: Clinton Born
1st Edition
1475856652, 978-1475856651
