Question
What is the present value of an ordinary annuity that pays $5,000 per year for 5 years, assuming the annual discount rate is 9 percent?
What is the present value of an ordinary annuity that pays $5,000 per year for 5 years, assuming the annual discount rate is 9 percent?
| a. | $21,198.60 | |
| b. | $16,248.28 | |
| c. | $22,935.78 | |
| d. | $19,448.26 | |
| e. | $3,249.66 |
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Advanced Bond Portfolio Management
Authors: Frank J. Fabozzi, Lionel Martellini, Philippe Priaulet
1st Edition
0471678902, 9780471678908
