$7,763 You found out that now you are going to receive payments of $7,000 for the next 14 years. You will receive these payments at the beginning of each year. The annual interest rate will remain constant at 14%. What is the present value of these payments? (Note: Round your answer to the nearest whole dollar.) $64,661
$7,763 You found out that now you are going to receive payments of $7,000 for the next 14 years. You will receive these payments at the beginning of each year. The annual interest rate will remain constant at 14%. What is the present value of these payments? (Note: Round your answer to the nearest whole dollar.) $64,661
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter4: Managing Your Cash And Savings
Section: Chapter Questions
Problem 7FPE: Calculating interest earned and future value of savings account. If you put 6,000 in a savings...
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6. Present value of annuities
Your uncle has said that if you agree to finish college he will give you equal payments of $1,000 at the end of each year for the next eight years.
If the annual interest rate stays constant at 6%, what is the value of these payments in today’s dollars? (Note: Round your answer to the nearest whole dollar.)
$6,583
$5,279
$6,210
$7,763
You found out that now you are going to receive payments of $7,000 for the next 14 years. You will receive these payments at the beginning of each year. The annual interest rate will remain constant at 14%.
What is the present value of these payments? (Note: Round your answer to the nearest whole dollar.)
$64,661
$42,015
$38,318
$47,897
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