Question

A contract calls for annual payments of $2,400. Find the present value of the contract, assuming that
(1) The number of payments is 7 and the current interest rate is 6 percent;
(2) The number of payments is 14 and the current interest rate is 6 percent;
(3) The number of payments is 7 and the current interest rate is 8 percent;
(4) The number of payments is 14 and the current interest rate is 8 percent.



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  • CreatedMarch 26, 2014
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