Using the appropriate present value table and assuming a 12% annual interest rat
ID: 2341659 • Letter: U
Question
Using the appropriate present value table and assuming a 12% annual interest rate, determine the present value on December 31, 2018, of a five-period annual annuity of $5,900 under each of the following situations: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)
1.The first payment is received on December 31, 2019, and interest is compounded annually.
2.The first payment is received on December 31, 2018, and interest is compounded annually.
3.The first payment is received on December 31, 2019, and interest is compounded quarterly.
Complete this question by entering your answers in the tabs below.
Required 1
The first payment is received on December 31, 2019, and interest is compounded annually. (Round your final answers to nearest whole dollar amount.)
Required 2
The first payment is received on December 31, 2018, and interest is compounded annually. (Round your final answers to nearest whole dollar amount.)
Required 3
The first payment is received on December 31, 2019, and interest is compounded quarterly. (Round your final answers to nearest whole dollar amount.)
Explanation / Answer
Req 3
Req 1 Payment 5900 n= 5 i= 12.00% PV – 12/31/2018 PVA =5900*3.60478 21268Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.