Question
What is the present value of a 5-year ordinary annuity of $3,500 per year plus an additional $1,000 at the end of Year 5 if
What is the present value of a 5-year ordinary annuity of $3,500 per year plus an additional $1,000 at the end of Year 5 if the interest rate is 6%?
A. $15,133.74
B. $8,740.50
C. $15,405.36
D. $8,532.40
E. $15,490.53
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Financial Economics
Authors: Frank J. Fabozzi, Edwin H. Neave, Guofu Zhou
1st Edition
0470596201, 9780470596203
