If the present value of an ordinary, 6-year annuity is $9,400 and interest rates are 9.5 percent, what’s the present value of the same annuity due?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 7P
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If the present value of an ordinary, 6-year annuity is $9,400 and interest rates are 9.5 percent, what’s the present value of the same annuity due?

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