Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Find the present value of 30 annual payments of $3,500 per annum where the first payment is made 5 years from now. So there are
Find the present value of 30 annual payments of $3,500 per annum where the first payment is made 5 years from now. So there are 30 annual payments from t=5 to t=34 inclusive. The discount rate is 8% pa. The present value of these payments is: Select one: a. $40,790.9895 b. $39,402.2424 c. $39,054.4217 d. $28,961.8246 e. $4,347.7586
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