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Exercise B-10 (Algo) Present values of annuities LO P3 C&H Ski Club recently borrowed money and agreed to pay it back with a series
Exercise B-10 (Algo) Present values of annuities LO P3 C&H Ski Club recently borrowed money and agreed to pay it back with a series of six annual payments of $10,000 each. C&H subsequently borrows more money and agrees to pay it back with a series of four annual payments of $10,000 each. The annual Interest rate for both loans is 8%. Find the present value of these two separate annuities. (PV of $1, FV of $1. PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to nearest whole dollar. Round "Table Factor" to 4 decimal places.) Eirst Annuity Number of Interest Periods Single Future Amount Table Factor Rate Payment Borrowed First payment 1 8% 5 10,000 x Second payment 2 8% 10,000x Third payment 3 8% 10,000 x Fourth payment 4 8% 10,000 x Fifth payment 5 8% 10,000x Sixth payment 6 8% 10,000x Second Annuity Number of Periods Interest Single Future Table Factor Rate Payment First payment 1 8% $ 10,000x Second payment 2 8% 10,000x Third payment 3 8% 10,000x Fourth payment 4 8% 10,000x = Amount Borrowed 0 $ 0 0 0 0 0
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