FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is the present value of an annuity of $700 each year for 46 years, assuming an interest rate (opportunity cost) of 17.6 percent, and

image text in transcribed

What is the present value of an annuity of $700 each year for 46 years, assuming an interest rate (opportunity cost) of 17.6 percent, and that these amounts are received at the end of each year? Select one: a. 6887656.21 O b. 0.40 O c. 1212927.49 d. 3974.98

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

blur-text-image_2

Step: 3

blur-text-image_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

Essentials Of Accounting For Governmental And Not-for-Profit Organizations

Essentials Of Accounting For Governmental And Not-for-Profit Organizations

Authors: Paul A Copley

11th Edition

0078025451, 9780078025457

More Books

Students also viewed these Finance questions

Question

★★★★★
As winner of a breakfast cereal competition, you can choose one of the following prizes: a. $100,000 now. b. $180,000 at the end of five years. c. $11,400 a year forever. d. $19,000 for each of 10...

Answered: 1 week ago

Question

★★★★★
2-4 Describe the elements of a customer value-driven marketing strategy and mix and the forces that influence it. Marketing Strategy and the Marketing Mix (7884)

Answered: 1 week ago

Question

★★★★★
Contrast Plato with Aristotle in their approaches to knowledge.

Answered: 1 week ago

Question

★★★★★
The Iwata Oil Company incurred costs of $6 million during 2007 drilling for oil. Half the costs resulted in oil being found and half resulted in dry wells. The company expects the oil wells to...

Answered: 1 week ago

Question

★★★★★
6 ) Suppose you hold a long position in a 1 0 0 futures contract for an exercise price of $ 7 0 . Your broker requires an initial margin of 1 0 % and a maintenance margin of 6 % . Over the first 5...

Answered: 1 week ago

Question

★★★★★
Sales Growth 1. How well has SciTronics performed in terms of sales growth? 2. Is rapid sales growth de facto "good"? 3. What can be inferred from rapid sales growth? Ratios Net Profit Average...

Answered: 1 week ago

Question

★★★★★
Case 3: Tourism Professionals in the Hotel Upon arriving at my destination, I usually take the hotel limousine for convenience and safety. Since I made prior arrangements, an airport representative...

Answered: 1 week ago

Question

★★★★★
Prepare a Life Cycle Assessment of returnable and non-returnable glass bottles used for the production of soda. The bottles have a capacity of 300 mL. A returnable bottle has a mass of 250 g and...

Answered: 1 week ago

Question

★★★★★
Chase strategy refers to the concept that you are chasing the demand set by the market. Production is set to match demand and does not carry any leftover products. This is a lean production strategy,...

Answered: 1 week ago

Question

★★★★★
In the research article "Alternative Perspectives in the Organizational Sciences: "Inquiry from the Inside" and "Inquiry from the Outside," Evered and Louis talk about both modes of inquiry as a way...

Answered: 1 week ago

Question

★★★★★
Correcting negative trends in KPIs requires a robust Corrective Action procedure. Research and provide a narrative on a Corrective Action procedure. Ensure that you include the connecting process....

Answered: 1 week ago

Question

★★★★★
What recommendations would you have for Sara about how to communicate the changes in the benefit package once they are determined? Discuss whether you think staff should be involved in the process of...

Answered: 1 week ago

Question

★★★★★
As part of the audit process, Sara will gather information relating to employees understanding of the companys current benefit offerings. How might information about staff understanding of current...

Answered: 1 week ago

Question

★★★★★
Under what circumstances are pay differentials justified?

Answered: 1 week ago

Previous Question Next Question