(Present value of an ordinary annuity) What is the present value of
$3,500 per year for 10 years discounted back to the present at 11 percent? The present value of $3,500 per year for 10 years discounted back to the present at 11 percent is $ (Round to the nearest cent.)
Present value of annuity=Annuity[1-(1+interest rate)^-time period]/rate
=3500[1-(1.11)^-10]/0.11
=3500*5.88923201
=$20612.31(Approx).
(Present value of an ordinary annuity) What is the present value of $3,500 per year for...
(Related to Checkpoint 6.2) (Present value of an ordinary annuity) What is the present value of $3,500 per year for 9 years discounted back to the present at 9 percent? The present value of $3,500 per year for 9 years discounted back to the present at 9 percent is $ (Round to the nearest cent.)
What is the present value of $3,500 per year for 8 years discounted back to the present at 9 percent? The present value of $3,500 per year for 8 years discounted back to the present at 9 percent is $ (Round to the nearest cent.)
Problem 5-22 (similar to) (Present value of an annuity) What is the present value of the following annuities? a. $1,600 a year for 8 years discounted back to the present at 10 percent. b. $80 a year for 5 years discounted back to the present at 7 percent. c. $260 a year for 11 years discounted back to the present at 12 percent d. $440 a year for 4 years discounted back to the present at 5 percent. a. What...
1.What is the future value of $510 per year for 8 years compounded annually at 11 percent? The future value of $510 per year for 8 years compounded annually at 11 percent is $_ (Round to the nearest cent.) 2. What is the present value of $2,500 per year for 10 years discounted back to the present at 11 percent? The present value of $2,500 per year for 10 years discounted back to the present at 11 percent is $_...
Find the present value of an ordinary annuity which has payments of $1300 per year for 14 years at 8% compounded annually. The present value is $ . (Round to the nearest cent.)
Find the present value of an ordinary annuity which has payments of $2000 per year for 16 years at 5% compounded annually The present value is $ (Round to the nearest cent.)
6-2. (Caloulating the present value of an ordinary annuity) (Related to Checkpoint page 199) Calculate the present value of the following annuities. a. £350 a year for 12 years discounted back to the present at 7 percent. b. €260 a year for 5 years discounted back to the present at 8 percent. c. $3,000 a year for 8 years discounted back to the present at 6 percent. d. £60 a year for 3 years discounted back to the present at...
e. What is an annuity due? How does this differ from an ordinary annuity? f. What is the present value of an ordinary annuity of $2 comma 6002,600 per year for 2525 years discounted back to the present at 1111 percent? What would be the present value if it were an annuity due? g. What is the future value of an ordinary annuity of $2 comma 6002,600 per year for 2525 years compounded at 1111 percent? What would be the...
What is the present value of the following annuity? $3,491 every year at the end of the year for the next 11 years, discounted back the present at 14.66 percent per year, compounded annually?
What is the present value of the following annuity? $3,234 every year at the end of the year for the next 11 years, discounted back to the present at 16.20 percent per year, compounded annually?