Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Use the following tables to calculate the present value of a $333,000 @ 6%, 5-year bond that pays $19,980 interest annually, if the market rate
Use the following tables to calculate the present value of a $333,000 @ 6%, 5-year bond that pays $19,980 interest annually, if the market rate of interest is 7%. Round to the nearest dollar. Present Value of Annuity of $1 5% 6% 7% Periods Periods .95238 .94340 .93458 1 2 10 % .90909 1.73554 2.48685 2 1.85941 2.72325 1.83339 2.67301 1.80802 2.62432 3.54595 3.46511 3.38721 3.16987 Present Value of $1 5% 6% 7 % 10 % ; .95238 .94340 93458 .90909 90703 .89000 87344 82645 1 .86384 .83962 .81630 75131 .82270 79209 76290 .68301 ; 78353 74726 71299 .62092 .74622 70496 .66634 56447 | 71068 .62275 .51316 | .67684.62741 .58201 .46651 .64461 .59190 .54393 42410 .61391 .55839 50835 .38554 1 5 4.32948 4.21236 5.075694.91732 4.10020 4.76654 3.79079 4.35526 8 9 10 8 9 10 5.78637 6.46321 7.10782 7.72173 5.58238 6.20979 6.80169 7.36009 5.389294.86842 5.97130 5.33493 6.51523 5.75902 7.02358 6.14457
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started