Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Find the present value of an annual ordinary payment of 3000 and the number of its payments is 13 with a nominal annual interest rate
Find the present value of an annual ordinary payment of 3000 and the number of its payments is 13 with a nominal annual interest rate of 4%? O a. 44686.6 O b. 29956.8 O c. 39668.4 O d. 44789.9 A Jordanian factory bought machines worth 100,000 dinars, and it was agreed to pay the price with interest in fixed installments for 5 years. If the compound interest rate is 6% annually. Knowing that the average annual payment required for payment is 0.237396, the fixed installment for payment is Select one: O a. 23 639.6 O b. 23 937.6 O c. 23 739.6 O d. 23 539.6
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