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Please help! With both required tabs 1 / 2 Ski Club recently borrowed money and agreed to pay it back with a series of six
Please help! With both required tabs
Ski Club recently borrowed money and agreed to pay it back with a series of six annual payments of $6,800 each. At the same time, borrowed additional money and agreed to pay it back with a series of four annual payments of $10,200 each. The annual interest rate for both loans is 6% (PV pf FV of $1, PVA of $11 and FVA of $1) Note: Use factor(s) from the tables provided. Round answers to nearest whole dollar. Round "Table Factore to 4 decimal places. Complete this question by entering your answers in the tabs below. Required Required 1 2 Use the correct table to find the present value of these two separate annuities. Note: Round amounts to the nearest dollar. First Annuity Ices First payment Second a ent Third payment Fountl payment Fifth payment Sixth payment First payment Second a ment Third payment Fourth payment Number of Periods 2 3 4 5 6 Number of Periods 2 3 4 Interest Rate 6% 6% 6% 6% 60/0 S ingle Future Pa ent $ 6,800 x 6,800 6,800 x 6,800 x 6,800 x 6,800 x Table Factor Table Factor Required 2 Present Value Present Value 10 Second Annuity Interest Rate 6% 6% 60/0 60/0 Single Future Pa ment $ 10,200 * 10,200 x 10,200 x 10,200 x
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