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Find the present value of the following ordinary simple annuity. Periodic Payment: $505 Payment Interval: 1quarter Term: 2.75years Interest Rate: 8.7% Conversion Period: quarterly Answer:
Find the present value of the following ordinary simple annuity.
Periodic Payment: $505
Payment Interval: 1quarter
Term: 2.75years
Interest Rate: 8.7%
Conversion Period: quarterly
Answer:
The present value is _?
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)
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