Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using the annuity table, complete the following. (Use Table 13.2.) (Do not round intermediate calculations. Round your answer to the nearest cent.) Using the annuity

Using the annuity table, complete the following. (Use Table 13.2.) (Do not round intermediate calculations. Round your answer to the nearest cent.)

image text in transcribedimage text in transcribed

Using the annuity table, complete the following. (Use Table 13.2.) (Do not round intermediate calculations. Round your answer to the nearest cent.) Payment amount end of Frequency of each period payment Length of time Interest rate PV of Annuity $ 1,460 Annually 9 years 7 % % TABLE 13-2 Present value of an annuity of $1 Period 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 1 0.9804 0.9709 0.9615 0.9524 0.9434 0.9346 0.9259 0.9174 0.9091 0.9009 0.8929 0.8850 2. 1.9416 1.9135 1.8861 1.8594 1.8334 1.8080 1.7833 1.7591 1.7125 1.6901 1.7355 2.4869 1.6681 2.3612 3 2.8839 2.8286 2.7751 2.7232 2.6730 2.6243 2.5771 2.5313 2.4437 2.4018 3.8077 3.5459 3.4651 3.2397 3.1024 2.9745 3.7 171 4.5797 3.6299 4.4518 3.3872 4.1002 3.3121 3.9927 3.1699 3.7908 4.7134 3.8897 3.6959 4.3295 5.0757 3.0373 3.6048 4.1114 3.5172 3.9975 6 5.6014 4.2124 4.9173 5.5824 5.4172 5.2421 4.7665 4.6229 4.4859 4.3553 4.2305 7 6.2303 5.3893 5.2064 5.0330 4.7122 4.4226 6.4720 7.3255 6.0021 6.7327 5.7864 6.4632 4.5638 4.9676 8 7.0197 6.2098 5.7466 5.5348 5.1461 4.7988 4.8684 5.3349 5.7590 6.1446 9 8.1622 7.7861 7.4353 7.1078 6.8017 6.2469 5.9952 5.9713 6.5152 7.0236 7.4987 5.5370 5.3282 5.6502 10 8.9826 8.5302 7.3601 6.7101 6.4177 5.8892 8.1109 8.7605 5.1317 5.4262 5.6869 11 9.7868 7.7217 8.3064 8.8632 9.2526 7.8869 7.1390 6.8052 6.4951 6.2065 5.9377 12 7.9427 7.1607 6.8137 6.4924 6.1944 10.5753 11.3483 9.9540 10.6350 9.3851 9.9856 8.3838 8.8527 7.5361 7.9038 5.9176 6.1218 13 9.3936 8.3576 7.4869 7.1034 6.7499 6.4235 14 12.1062 11.2961 10.5631 9.8986 9.2950 8.7455 8.2442 7.7862 6.9819 6.6282 6.3025 15 11.1184 9.1079 8.5595 8.0607 7.1909 6.8109 7.3667 7.6061 7.8237 12.8492 13.5777 6.4624 10.3796 10.8378 9.7122 10.1059 16 11.6523 9.4466 8.8514 8.3126 7.3792 6.9740 6.6039 11.9379 12.5611 13.1661 13.7535 17 12.1657 11.2741 9.7632 9.1216 8.5436 8.0216 7.5488 6.7291 14.2918 14.9920 7.1196 7.2497 18 12.6593 10.4773 10.8276 11.1581 9.37 19 7.7016 11.6896 12.0853 6.8399 10.0591 10.3356 8.7556 8.9501 8.2014 8.3649 19 15.6784 14.3238 13.1339 9.6036 7.8393 7.3658 6.9380 20 16.3514 14.8775 13.5903 12.4622 10.5940 9.8181 9.1285 8.5136 7.4694 11.4699 12.7834 7.9633 8.4217 7.0248 7.3300 25 19.5234 17.4131 15.6221 14.0939 11.6536 10.6748 9.8226 9.0770 7.8431 30 17.2920 13.7648 12.4090 11.2578 10.2737 8.6938 8.0552 7.4957 22.3964 27.3554 31.4236 19.6004 23.1148 25.7298 15.3724 17.1591 40 9.4269 9.7790 19.7928 13.3317 11.9246 8.9511 8.2438 15.0463 15.7619 10.7574 10.9617 7.6344 7.6752 50 21.4822 18.2559 13.8007 12.2335 9.9148 9.0417 8.3045

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Finance questions