For each of the following annuities, calculate the present value. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Present Value Annuity Payment Years Interest Rate $ 2,150 7 6% $ 1,325 9 5 $ 11,955 20 $ 30,900 28 22 7 9

Cornerstones of Financial Accounting
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ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
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For each of the following annuities, calculate the present value.
Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.
Present Value
Annuity Payment
Years
Interest Rate
$
2,150
7
6%
$
1,325
9
5
$
11,955
20
7
$
30,900
28
9
Transcribed Image Text:For each of the following annuities, calculate the present value. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Present Value Annuity Payment Years Interest Rate $ 2,150 7 6% $ 1,325 9 5 $ 11,955 20 7 $ 30,900 28 9
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