ctice Assignment Gradebook ORION Downloadable eTextbook ment CALCULATOR FULL SCR

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ctice Assignment Gradebook ORION Downloadable eTextbook ment CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise G-12 Sandhill Co. is considering investing in an annuity contract that will return $31,420 annually at the end of each year for 14 years. lick here to view the factor table (For calculation purposes, use 5 decimal places as displayed in the factor table provided) what amount should Sandhill Co. pay for this investment if it earns an 7% return? (Round answer to 2 decimal places. e.g. 25.25.) Sandhill Co. should pay$ Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT Question Attempts: UnlimitedSAVE FOR LATER SUBMIT ANSWER

Explanation / Answer

Present value = $31,420 * Present value of annuity factor(7%,14)

Present value = $31,420 * 8.74547

Present value = $274,782.67

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