If the present value of a 10-year ordinary is $8,475 and interest rates are 7.3 percent,...
If the present value of a 10-year ordinary is $8,475 and interest rates are 7.3 percent, what is the present value of the same annuity due? (ENTER YOUR ANSWER WITHOUT DOLLAR SIGNS AND COMMAS. ROUND YOUR ANSWER TO 2 DECIMAL PLACES.)
Homework Answers
Present value of annuity due=Present value of annuity*(1+interest rate)
=8,475*1.073
which is equal to
=9093.68(Approx).
Add Answer to:
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