Find the present value of the following ordinary annuities (see the Notes to Problem 4-12). a. $400
Question:
a. $400 per year for 10 years at 10%
b. $200 per year for 5 years at 5%
c. $400 per year for 5 years at 0%
d. Now rework parts a, b, and c assuming that payments are made at the beginning of each year; that is, they are annuities due.
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Step by Step Answer:
a With a financial calculator enter N 10 IYR 10 PMT 400 and FV 0 Then press ...View the full answer
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Related Book For 
Corporate Finance A Focused Approach
ISBN: 978-1439078082
4th Edition
Authors: Michael C. Ehrhardt, Eugene F. Brigham
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