Question
What is the present value of a 3-year ordinary annuity of $2,000 per year plus an additional $1,250 at the end of Year 3 if
What is the present value of a 3-year ordinary annuity of $2,000 per year plus an additional $1,250 at the end of Year 3 if the interest rate is 5%?
a. $5,446.50
b. $6,526.29
c. $7,323.30
d. $8,120.28
e. $9,930.35
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Investments An Introduction
Authors: Herbert B. Mayo
12th edition
1305638417, 978-1337430937, 1337430935, 978-1305638419
