Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use these present value tables to answer the question that follow Below is a table for the present value of $1 at Compound interest. 6%

image text in transcribed

Use these present value tables to answer the question that follow Below is a table for the present value of $1 at Compound interest. 6% 0.943 0.890 0.840 0.792 0.747 10% 0.909 0.826 0.751 0.683 0.621 1296 0.893 0.797 0.712 0.636 0.567 Year 4 Below is a table for the present value of an annuity of $1 at compound interest. 6% 0.943 1.833 2.673 3.465 4.212 10% 0.909 1.736 2.487 3.170 3.791 12% 0.893 1.690 2.402 3.037 3.605 Year 4 Using the tables above, what is the present value of $17,582.00 (rounded to the nearest dollar) to be received at the end of each of the next four years, assuming an earnings rate of 12%? a. $42,232 b. $53,397 . $17,582 Od. $63,383

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

9th Edition

ISBN: 1118334329, 978-1118334324

More Books

Students also viewed these Accounting questions

Question

Prove in detail that Rn is a vector space?

Answered: 1 week ago

Question

7. Identify six intercultural communication dialectics.

Answered: 1 week ago