Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Find the present value of the following ordinary annuity. Payment Interval 3 months Periodic Payment $2900 Term 9 years Interest Rate 6% Conversion Period semi-annually
Find the present value of the following ordinary annuity. Payment Interval 3 months Periodic Payment $2900 Term 9 years Interest Rate 6% Conversion Period semi-annually The present value is $ 80,364.23. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
**the $80 364.23 is the answer please help me get there
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