An investment will pay $16,800 at the end of each year for eight years and a one-time payment of $168,000 at the end of the eighth year. (FV of $1, PV of $1, FVA of $1, and PVA of $1) Note: Use the appropriate factor(s) from the tables provided. Required: Determine the present value of this investment using a 7 percent annual interest rate. Note: Round your intermediate calculations and final answer to nearest whole dollar. Present value of investment
An investment will pay $16,800 at the end of each year for eight years and a one-time payment of $168,000 at the end of the eighth year. (FV of $1, PV of $1, FVA of $1, and PVA of $1) Note: Use the appropriate factor(s) from the tables provided. Required: Determine the present value of this investment using a 7 percent annual interest rate. Note: Round your intermediate calculations and final answer to nearest whole dollar. Present value of investment
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 22P
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