# Solve the following exercises by using formulas. Present value of an ordinary annuity Annuity Payment Payment Frequency Time Period (yrs) Nominal Rate ( % ) Interest Compounded Present Value of the Annuity 17. $500 every 3 months 3 1 4 6.0 quarterly$5,865.77

### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
Publisher: Cengage Learning
ISBN: 9781305585447

### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
Publisher: Cengage Learning
ISBN: 9781305585447

#### Solutions

Chapter 12.II, Problem 17RE
Textbook Problem

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