Question
How much must be invested now to receive $63000 for 15 years if the first $63000 is received today and the rate is 9%? Periods
How much must be invested now to receive $63000 for 15 years if the first $63000 is received today and the rate is 9%?
| Periods | Present Value of Ordinary Annuity at 9% | |
| 14 | 7.78615 | |
| 15 | 8.06069 | |
| 16 | 8.31256 |
| a. | $945000 |
| b. | $553527 |
| c. | $460688 |
| d. | $507823 |
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The Lakeside Company Case Studies In Auditing
Authors: John Trussel, J. Douglas Frazer
12th Edition
0132567253, 978-0132567251
