Problem 9-28 Annuity due [LO9-4]
What is the present value of a 6-year annuity of $1,500 per
period in which payments come at the beginning of each period? The
interest rate is 12 percent. Use Appendix D for an
approximate answer, but calculate your final answer using the
formula and financial calculator methods. When using Appendix D to
find the present value of this annuity due, subtract 1 from n and
add 1 to the table value. (Do not round intermediate
calculations. Round your final answer to 2 decimal
places.)
Problem 9-28 Annuity due [LO9-4] What is the present value of a 6-year annuity of $1,500 per period in which payments co
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