Complete the present value of an ordinary annuity

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Reference no: EM131901859

1. Complete the following for the present value of an ordinary annuity. (Use Table13.2.) (Do not round intermediate calculations. Round your answer to the nearest cent.)

Amount of annuity expected		Payment	Time	Interest rate	Present value (amount needed now to invest to receive annuity)
$710		Annually	5 Years	7%	$

2. Complete the following for the present value of an ordinary annuity. (Please use the following provided Table.) (Do not round intermediate calculations. Round your answer to the nearest cent.)

Amount of annuity expected		Payment	Time	Interest rate	Present value (amount needed now to invest to receive annuity)
$16,000		Quarterly	5 Years	8%	$

3. Using the sinking fund Table13.3, complete the following: (Do not round intermediate calculations. Round your answer to the nearest cent.)

Required amount		Frequency of payment	Length of time	Interest rate	Payment amount end of each period
$	25,900	Quarterly	6 Years	8%	$

4. Using the sinking fund, complete the following. (Use Table13.1). (Do not round intermediate calculations. Round your answer to the nearest cent.)

Payment amount end of each period		Frequency of payment	Length of time	Interest rate	Required amount
$1,500		Annually	8 Years	8%	$

Reference no: EM131901859

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