FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help? Suppose the interest rate is 85% APR with monthly compounding. What is the present value of an annuty that pays 595 every three

please help?
image text in transcribed
Suppose the interest rate is 85% APR with monthly compounding. What is the present value of an annuty that pays 595 every three months for four years? (Note Be careful not to round any intermodiate steps less than sox decimal places) The present value of the annuity 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

The Business Credit Handbook

The Business Credit Handbook

Authors: Mr. Reid A. Nunn

1st Edition

1500542725, 978-1500542726

More Books

Students also viewed these Finance questions

Question

★★★★★
Suppose the spot and three-month forward rates for the yen are 115.13 and 114.35, respectively. a. Is the yen expected to get stronger or weaker? b. What would you estimate is the difference between...

Answered: 1 week ago

Question

★★★★★
Why do some people become regular users of consciousness-altering drugs?

Answered: 1 week ago

Question

★★★★★
Comment on how well the investments of pension plans are diversified.

Answered: 1 week ago

Question

★★★★★
Fender Construction Company receives a contract to construct a building over a period of 3 years for a price of $700,000. The contract represents a single performance obligation that will be...

Answered: 1 week ago

Question

★★★★★
we weat ereverth puer youe 7 quablyt cownecinsed andyy repold in frese douse intaltwerte. we weat ereverth puer youe 7 quablyt cownecinsed andyy repold in frese douse intaltwerte

Answered: 1 week ago

Question

★★★★★
Corporate Concepts, a multinational firm, is planning to begin operations in a geographic region they have not previously operated in. They have done an analysis of the business, political, and...

Answered: 1 week ago

Question

★★★★★
Loyalty to the organization is the paramount duty. It requires the individual to put the interests of the corporation before self-interest. Specifically, no director is permitted to gain personally,...

Answered: 1 week ago

Question

★★★★★
M&M Company manufactures a single product the claud . the following budgeted figures relate to the claud for one year period. Sales & production (units) 800 Sales $16,000 Production Costs: Variable...

Answered: 1 week ago

Question

★★★★★
You delegated the development of dessert recipe cards to Bobby. Bobby has completed the dessert cards ready for the deadline of March 10 th . Bobby has met with you to go through the dessert....

Answered: 1 week ago

Question

★★★★★
Question 19 (3 points) Listen Thames Inc.'s most recent dividend was $2.5 per share (Do = $2.5). The dividend is expected to grow at a rate of 4% per year. The risk-free rate is 3% and the return on...

Answered: 1 week ago

Question

★★★★★
Assume the US enacted tax rate is 30%, and a non-US subsidiary\'s local enacted rate is 25%. If the non-US subsidiary\'s outside basis for book exceeds outside basis for tax, at what total rate will...

Answered: 1 week ago

Question

★★★★★
Discuss current trends in using formal education for development. page 386

Answered: 1 week ago

Question

★★★★★
Describe the governments role in personnel selection decisions, particularly in the areas of constitutional law, federal laws, executive orders, and judicial precedent. page 235

Answered: 1 week ago

Question

★★★★★
Establish the basic scientific properties of personnel selection methods, including reliability, validity, and generalizability. page 224

Answered: 1 week ago

Previous Question Next Question