If the present value of an ordinary, 6-year annuity is $5,600 and interest rates are 7.5 percent, what's the present value of the sam annuity due? (Round your answer to 2 decimal places.) Present value

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 20E
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If the present value of an ordinary, 6-year annuity is $5,600 and interest rates are 7.5 percent, what's the present value of the same
annuity due? (Round your answer to 2 decimal places.)
Present value
Transcribed Image Text:If the present value of an ordinary, 6-year annuity is $5,600 and interest rates are 7.5 percent, what's the present value of the same annuity due? (Round your answer to 2 decimal places.) Present value
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