Use the following tables to calculate the present value of a $765,000 @ 6%, 6-year bond that pays $45,900 interest annually, if the market rate of interest is 7%. Round to the nearest dollar.

Present Value of $1						Present Value of Annuity of $1
Periods	5 %	6 %	7 %	10 %		Periods	5 %	6 %	7 %	10 %
1	.95238	.94340	.93458	.90909		1	.95238	.94340	.93458	.90909
2	.90703	.89000	.87344	.82645		2	1.85941	1.83339	1.80802	1.73554
3	.86384	.83962	.81630	.75131		3	2.72325	2.67301	2.62432	2.48685
4	.82270	.79209	.76290	.68301		4	3.54595	3.46511	3.38721	3.16987
5	.78353	.74726	.71299	.62092		5	4.32948	4.21236	4.10020	3.79079
6	.74622	.70496	.66634	.56447		6	5.07569	4.91732	4.76654	4.35526
7	.71068	.66506	.62275	.51316		7	5.78637	5.58238	5.38929	4.86842
8	.67684	.62741	.58201	.46651		8	6.46321	6.20979	5.97130	5.33493
9	.64461	.59190	.54393	.42410		9	7.10782	6.80169	6.51523	5.75902
10	.61391	.55839	.50835	.38554		10	7.72173	7.36009	7.02358	6.14457

Use the following tables to calculate the present value of a $765,000 @ 6%, 6-year bond that pays $45,900 interest annually, if the market rate of interest is 7%. Round to the nearest dollar. Present Value of $1 Present Value of Annuity of $1 Periods 5 % 6 % 7 % 10 % Periods 5 % 6 % 7 % 10 % 1 .95238 .94340 93458 .90909 1 .95238 .94340 .93458 .90909 2 .90703 .89000 .87344 .82645 2 1.85941 1.83339 1.80802 1.73554 3 .86384 .83962 .81630 .75131 3 2.72325 2.67301 2.62432 2.48685 4 .82270 .79209 ..76290 .68301 1 4 3.54595 3.46511 3.38721 3.16987 5 .78353 .74726 .71299 .620921 5 4.32948 4.21236 4.10020 3.79079 6 .74622 .70496 .66634 .56447 6 5.07569 4.91732 4.76654 4.35526 7 .71068 .66506 .62275 .51316 7 5.78637 5.58238 5.38929 4.86842 8 .67684 .62741 .58201 .46651 H 8 6.46321 6.20979 5.97130 5.33493 9 .64461 .59190 .54393 .42410 9 7.10782 6.80169 6.51523 5.75902 10 .61391 .55839 .50835 .38554 10 7.72173 7.36009 7.02358 6.14457