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What is the present value of a 7-year annuity of $1,000 per period in which payments come at the beginning of each period? The interest
What is the present value of a 7-year annuity of $1,000 per period in which payments come at the beginning of each period? The interest rate is 13 percent. Use Appendix Dfor an approximate answer, but calculate your final answer using the formula and financial calculator methods. When using Appendix D to find the present value of this annuity due, subtract 1 from n and add 1 to the table value. (Do not round intermediate calculations. Round your final answer to 2 decimal places. )
% 01 13 44 02 96 3 2 6 3 8 7 92 50 82 9992 39 011122222222222222222222 59 45 95 14 03 6 642 01 65 14 5 011122222222222222222222 O. 1 2 3 3 4 5 5 5 6 6 7 7 7 8 8 8 8 8 9 9 0 0. 1 1 2 2 2 2 2 3 3 3 3 3 3 3 3 3 3 49708 770 5 O. 1 2 3 3 4 5 5 6 6 7 7 7 8 8 8 9 9 9. 0-12 1549 012223334444444444444444 012344556777889990 3527 10-2. 2 3 3 3 3 4 4 4 4 4 444455 5 5 5 5 5 60-2. 3 4 4 5 6 6 7 7 8 8 9 9 0 0 0 1 1 2 3 55 293 1012233344444455555555555 0 1 2 3 4 5 5 6 7 7 8 8 9 9 0 0 1 1 2 2 4578 1012233344444555555555555 2232 4012345667889 . 0 1 1 2 2 3 3 5791 788 1012233444, 4 5 5 5 5 5 5 5 5 5 5 6 6 6 6 1397 2 012345677899011233447935 7 101223 3. 4 4 4 5 5 5 5 5 5 5 6 6 6 6 6 6 6 13 01 72 25 62 83 87 75 48 06 98 92 92 78 51 23 96 55 24 2537 10122334445555666666 6777 10-2. 2 3 3 4 4 5 5 5 5 6 6 6 6 6 6 6 7 7 7 7 7 123456789012345678905 1234567890123456789Step by Step Solution
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