Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 11, 2019

What is the present value of $ 3,000 paid at the end of each of the next 58 years if the interest rate is 7

What is the present value of $ 3,000 paid at the end of each of the next 58 years if the interest rate is 7 % per year?

Step by Step Solution

★★★★★

3.44 Rating (141 Votes )

There are 3 Steps involved in it

Step: 1

Amout of Annity P 3000 Time in y... 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

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

Recommended Textbook for

Foundations of Financial Management

Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen

16th edition

125927716X, 978-1259687969, 1259687961, 978-1259277160

More Books

Students also viewed these Finance questions

Question

★★★★★

2. Calculate the expected profits for each of the following scenarios: a. There is a 0.25 probability that you have profits of 10, a 0.40 probability that you have profits of 15, and a 0.35...

Answered: 1 week ago

Question

★★★★★

What is the present value of a. $7,900 in 10 years at 11 percent? b. $16,600 in 5 years at 9 percent? c. $26,000 in 14 years at 6 percent?

Answered: 1 week ago

Question

★★★★★

What is the present value of $1,000 to be received at the end of one year if it must provide a return of 5%? What is the present value of $1,000 to be received at the end of two years? Three years?...

Answered: 1 week ago

Question

★★★★★

Explain the economic basis for the U shape of the long-run average total cost curve.

Answered: 1 week ago

Question

★★★★★

(a) Open the financial statement template that you have saved from the Chapter 4 Hydrogenics Case. Click on the "Ratios" tab at the bottom of the screen and print out this page. (b) Using all...

Answered: 1 week ago

Question

★★★★★

Prepare an income statement and understand the information it communicates.

Answered: 1 week ago

Question

★★★★★

In your opinion, what aspects of intelligence do contemporary intelligence tests overemphasize?

Answered: 1 week ago

Question

★★★★★

Xon, a small oil company, purchased a new petroleum drilling rig for $1,800,000. Xon will depreciate the drilling rig using MACRS depreciation . The drilling rig has been leased to a drilling...

Answered: 1 week ago

Question

★★★★★

Primara Corporation has a standard cost system in which it applies overhead to products based on the standard direct labor-hours allowed for the actual output of the period. Data concerning the most...

Answered: 1 week ago

Question

★★★★★

Hemal Thomas is an employee in British Columbia. The net pay calculation is for the first biweekly pay of 2019. The employee is 32 years old and in this pay is entitled to 70 hours' regular pay at...

Answered: 1 week ago

Question

★★★★★

3-9. The manager for the Jiffy Lube in Saratoga, Florida, has collected data on the number of customers who agreed to purchase an air lter when they were also having their oil changed. The sample...

Answered: 1 week ago

Question

★★★★★

Our company makes and sells cell-phone sanitizer units. Cell phones are inserted inside the units and bathed in UV-C ultraviolet light that eliminates 99.9% of bacteria and viruses in approximately...

Answered: 1 week ago

Question

★★★★★

Suppose that a student suffering from migraine has a medical history that indicates the following probabilities. The probability that you will have a migraine in one day is 25%. If she has a migraine...

Answered: 1 week ago

Question

★★★★★

9. Your neighbor who has a job says, "I am having heart surgery in two months." When does your neighbor have to tell the employer about the surgery?

Answered: 1 week ago

Question

★★★★★

A group from the class in the previous question has identified a bug in their code that will take a minimum of 16 tasks T = {t1...t16} to resolve. How many ways are there to assign the tasks if (5...

Answered: 1 week ago

Question

★★★★★

During a heavy storm, lightning struck an office building that houses the data center of a small accounting firm. The lightning caused a fire that interrupted the electricity supply to the building...

Answered: 1 week ago

Question

★★★★★

Pretend that you are Ash Ketchum, or some other Pokemon trainer. In your everyday life, you encounter different Pokemon. Your job is to record the info of each Pokemon that you encounter to a...

Answered: 1 week ago

Question

★★★★★

What are the two components of a company's income tax provision? What does each component represent about a company's income tax provision?

Answered: 1 week ago

Question

★★★★★

In March, Hertz Pain Relievers bought a massage machine that provided a return of 8 percent. It was financed by debt costing 7 percent. In August Mr. Hertz came up with a heating compound that would...

Answered: 1 week ago

Question

★★★★★

The Global Products Corporation has three subsidiaries. a. Which division has the lowest return on sales? b. Which division has the highest return on assets? c. Compute the return on assets for the...

Answered: 1 week ago

Question

★★★★★

Frantic Fast Foods had earnings after taxes of $420,000 in the year 20X1 with 309,000 shares outstanding. On January 1, 20X2, the firm issued 20,000 new shares. Because of the proceeds from these new...

Answered: 1 week ago

Question

★★★★★

What is meant by the term lead time service leave Generally speaking, how is lead time service level related to the amount of safety' stock held?

Answered: 1 week ago

Question

★★★★★

What are some ways that a company can reduce its needs for inventories?

Answered: 1 week ago

Question

★★★★★

Question What are the advantages and disadvantages of opening up a Louisville warehouse/distribution centre versus shipping via courier from Halifax (within 20 km of Bedford)? In the late 1990s,...

Answered: 1 week ago

Previous Question Next Question