a. Determine the present value of $15,000 to be paid annually for 10 years, disc

Question

a. Determine the present value of $15,000 to be paid annually for 10 years, discounted at an annual rate of 6 percent. Payments are to occur at the end of each year. (Round your PV factor to 3 decimal places and final answer to the nearest dollar amount. Omit the "$" sign in your response.) Present value $ b. Determine the present value $9,200 to be received today, assuming that the money will be invested in a two-year certificate of deposit earning 8 percent annually. (Round your PV factor to 3 decimal places and final answer to the nearest dollar amount. Omit the "$" sign in your response.) Present value $ c. Determine the present value of $300 to be paid monthly for 36 months, with an additional "balloon payment" of $12,000 due at the end of the thirty-sixth month, discounted at a monthly interest rate of 1

Explanation / Answer

a. $15,000

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