Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Future and present value of an annuity Find the future and present value of a 20 -year ordinary annuity paying $40000 per year at each

image text in transcribed
Future and present value of an annuity Find the future and present value of a 20 -year ordinary annuity paying $40000 per year at each of the following interes a. 20% b. 10% c. 19 d. 015 e. What is the general principie that you soe when you compare your answers here? What value are both the present value and future value gettirig close to as a. The tuture value of a 20 -year ordinary annuty paying $400.00 per year at an annual interest rate of 20% is $74,67520 (Round to the nearest cent) The present value of a 20 -year ordinary ennuty paying $40000 per year at an annual interest rate of 20% is $ (Round to the nearest cent)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Accounting

Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik

10th edition

0-07-794127-6, 978-0-07-79412, 978-0077431808

Students also viewed these Finance questions