# Present Value of Monthly Payments Funkel Corporation has signed three separate agreements to make payments at the

## Question:

Present Value of Monthly Payments Funkel Corporation has signed three separate agreements to make payments at the end of each month, as indicated below. Compute the present value of the following:

**a.** 36 monthly payments of $400 each, with an annual interest rate of 24 percent.

**b.** 24 monthly payments of $7,000 each, with an annual interest rate of 6 percent.

**c.** 14 monthly payments of $2,000 each, with an annual interest rate of 12 percent.

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**Related Book For**

## Financial Accounting A Decision Making Approach

**ISBN:** 9780471328230

2nd Edition

**Authors:** Thomas E. King, Valdean C. Lembke, John H. Smith