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Use the following tables to calculate the present value of a $516,000 @ 6%, 6-year bond that pays $30,960 interest annually, if the market rate

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Use the following tables to calculate the present value of a $516,000 @ 6%, 6-year bond that pays $30,960 interest annually, if the market rate of interest is 7%. Round to the nearest dollar. Present Value of Annuity of $1 Present Value of $1 7 % Periods 5 % 6 % 10 % Periods 5 % 6 % 7 % 10 % .90909 1 .95238 .94340 .93458 1 95238 94340 .93458 90909 2 .90703 .89000 .87344 .82645 2 1.85941 1.83339 1.80802 1.73554 75131 2.72325 2.67301 2.48685 3 .86384 .83962 .81630 3 2.62432 76290 68301 3.54595 3.38721 3.16987 4 .82270 79209 4 3.46511 .74726 71299 .62092 4.32948 4,21236 4.10020 5 78353 5 3.79079 56447 4.91732 6 74622 70496 66634 6 5.07569 4.76654 4.35526 51316 7 71068 .66506 .62275 7 5.78637 5.58238 5.38929 4.86842 8 8 67684 .62741 .58201 46651 6.46321 6.20979 5.97130 5.33493 42410 9 64461 .59190 54393 9 7.10782 6.80169 6.51523 5.75902 61391 .55839 10 50835 38554 10 7.72173 7,36009 7,02358 6.14457

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