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Problem 2-24 (LG 2-9) Calculate the present value of the following annuity streams: a. $5,000 received each year for five years on the last
Problem 2-24 (LG 2-9) Calculate the present value of the following annuity streams: a. $5,000 received each year for five years on the last day of each year if your investments pay 7 percent compounded annually. b. $5,000 received each quarter for five years on the last day of each quarter if your investments pay 7 percent compounded quarterly. c. $5,000 received each year for five years on the first day of each year if your investments pay 7 percent compounded annually. d. $5,000 received each quarter for five years on the first day of each quarter if your investments pay 7 percent compounded quarterly. (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16)) Amount a. Present value $ 24,586.62 b. Present value $ 100,152.03 c. Present value $ 26,061.82 d. Present value $ 101,654.31
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