Question
You are to receive an annuity of $1,000 per year for 10 years. You will receive the first payment two years from today. At a
You are to receive an annuity of $1,000 per year for 10 years. You will receive the first payment two years from today. At a discount rate of 10%, what is the present value of this annuity?
a. $6,759.03
b. $6,144.57
c. $5,585.97
d. $5,078.15
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
7th Edition
978-0470477151, 978-0-470-5562, 470556242, 0-470-55624-2, 9780470556245, 978-0470507018
