Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

( Present value of an annuity ) What is the present value of the following annuities? a . $ 2 , 0 0 0 a

(Present value of an annuity) What is the present value of the following annuities?
a. $2,000 a year for 9 years discounted back to the present at 10 percent.
b. $80 a year for 5 years discounted back to the present at 7 percent.
c. $280 a year for 12 years discounted back to the present at 11 percent.
d. $570 a year for 6 years discounted back to the present at 6 percent.
a. What is the present value of $2,000 a year for 9 years discounted back to the present at 10 percent?
$ (Round to the nearest cent.)
b. What is the present value of $80 a year for 5 years discounted back to the present at 7 percent?
(Round to the nearest cent.)
c. What is the present value of $280 a year for 12 years discounted back to the present at 11 percent?
$ (Round to the nearest cent.)
d. What is the present value of $570 a year for 6 years discounted back to the present at 6 percent?
$ (Round to the nearest cent.)
image text in transcribed

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

Global Finance And Development

Authors: David Hudson

1st Edition

0415436354, 978-0415436359

More Books

Students also viewed these Finance questions

Question

What is focal length? Explain with a diagram and give an example.

Answered: 1 week ago

Question

What is physics and how does it apply in daily life?

Answered: 1 week ago

Question

What is the relation of physical mathematics with examples?

Answered: 1 week ago

Question

Identify cultural barriers to communication.

Answered: 1 week ago