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Question Content Area Use the following tables to calculate the present value of a $315,000 @ 6%, 5-year bond that pays $18,900 interest annually, if
Question Content Area
Use the following tables to calculate the present value of a $315,000 @ 6%, 5-year bond that pays $18,900 interest annually, if the market rate of interest is 7%. Round to the nearest dollar.
Present Value of $1Present Value of Annuity of $1Periods5 %6 %7 %10 %Periods5 %6 %7 %10 %1.95238.94340.93458.909091.95238.94340.93458.909092.90703.89000.87344.8264521.859411.833391.808021.735543.86384.83962.81630.7513132.723252.673012.624322.486854.82270.79209.76290.6830143.545953.465113.387213.169875.78353.74726.71299.6209254.329484.212364.100203.790796.74622.70496.66634.5644765.075694.917324.766544.355267.71068.66506.62275.5131675.786375.582385.389294.868428.67684.62741.58201.4665186.463216.209795.971305.334939.64461.59190.54393.4241097.107826.801696.515235.7590210.61391.55839.50835.38554107.721737.360097.023586.14457
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