What is the present value of an ordinary annuity of $1,600 per year for 6 years discounted back to the present at 11 percent?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
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What is the present value of an ordinary
annuity of $1,600 per year for 6 years
discounted back to the present at 11 percent?
Transcribed Image Text:What is the present value of an ordinary annuity of $1,600 per year for 6 years discounted back to the present at 11 percent?
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