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Use Table PV-1 (in Exhibit B-7) and Table PV-2 (in Exhibit B-9) a. Determine the present value of $15,000 to be paid annually for 10

Use Table PV-1 (in Exhibit B-7) and Table PV-2 (in Exhibit B-9)

a.

Determine the present value of $15,000 to be paid annually for 10 years, discounted at an annual rate of 6 percent. Payments are to occur at the end of each year.

b.

Determine the present value of $9,200 to be received today, assuming that the money will be invested in a two-year certificate of deposit earning 8 percent annually.

c.

Determine the present value of $300 to be paid monthly for 36 months, with an additional "balloon payment" of $12,000 due at the end of the 36th month, discounted at a monthly interest rate of 1

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