Question
How much must be invested now to receive $30,000 for 15 years if the first $30,000 is received today and the rate is 9%? Present
How much must be invested now to receive $30,000 for 15 years if the first $30,000 is received today and the rate is 9%?
|
| Present Value of |
| Periods | Ordinary Annuity at 9% |
| 14 | 7.78615 |
| 15 | 8.06069 |
| 16 | 8.31256 |
Group of answer choices
$241,821
$263,585
$450,000
$219,375
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Auditing Cases An Interactive Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
5th edition
132567237, 978-0132998345, 132998343, 978-0132567237
