Question: ANNUITY help me please understand Answers: 7) 13774.61 8)34.298 PROBLEM 4. An ordinary annuity paying P1,811 at the end of each year for 15 years,

ANNUITY

help me please understand

Answers:

7) 13774.61

8)34.298

PROBLEM 4.

An ordinary annuity paying P1,811 at the end of each year for 15 years, is to be converted to an annuity paying an amount at the beginning of each month for 15 years. Money is worth 10% compounded annually. Determine the following:

7.Present value of the payment.

8.Amount being paid at the beginning of each month for 15 years?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Unit 6 Study Exercises QUESTION 6.1 (15 marks) The records for Oxtongue Inc. show the following data for calendar 2020: a) Gross profit on instalment sales recorded on the books was $100,000. Gross...

Which of the following statements is correct? Statement 1. Of all the techniques used in finance, the least important is the concept of the time value of money. Statement 2. Compounding is the...

FINC 331 Week 8 Quiz, Part I which entails multiple choice questions FINC 331 Week 8 Quiz 13628009756773 301935 1866146 1 175503 0 false Note: It is recommended that you save your response as you...

uiz Note: It is recommended that you save your response as you complete each question. Question 1 (1 point) Which of the following is NOT a correct way of calculating a liquidity ratio? Question 1...

I need help with following questions from the homework. I have attached the chapters so please see the attached files to answer the following questions specifically. Ch 4 (p 176 of text or p 34 of...

Please provide details along with formulas that can help me better understand the requirements of this question In the format requested i Data Table Year 1. Year 2 Year 3 Year 4 Year 5 $262,000...

Please help me with this homework! The questions are on the pdf file I am struggling with time value of the money. I don't understand the most of the concepts. I really need help for this project....

PLEASE COMPLETE NO LATER THAN 11/04 @8am Each question(1,2,& 3) must be a minimum of 200 words. Please EXPLAIN answers in FULL detail and make answers knowledgeable based off the attached reading,...

See page 129- 137 on attachment for more details there are five steps to the project. Step 1: Create the loan amortization schedule for the property. Step 2: Create the depreciation schedule. Step 3:...

please help me. I can pay only 70 dollars in this assignment Topic 1 & 2 Introduction to financial management and the Australian Taxation system Financial Markets 2 Learning Objectives Describe what...

please help me in 70 dollars to do this assignment iin APA style referencing Topic 1 & 2 Introduction to financial management and the Australian Taxation system Financial Markets 2 Learning...

In the diagram, the energy difference between states A and B is twice the energy difference between states B and C. In a transition (quantum jump) from C to B, an electron emits a photon of...

Which of the following is not a valid elementary row operation to perform on an augmented matrix using the Gauss Elimination method? Interchange/reorder rows Multiply or divide a multiple of one row...

The difference between the "theoretical" percentage or intervals that cover and the actual percentage that did cover has at least two sources:

Visit www.bostonpizza.com and click on MyBP. Scroll through the various benefits offered, and make note of the ones that appeal to you personally. Explain their value to you.

As an intern for A.C Delgado CPAs, your supervisor handed you the following audit control assessment and possible test planning for Jasper PaceSetter, Inc. a nonpublic company. Your supervisor wants...

Despite the suggestion that the decision to add, say, Pizza Tacos to the BP menu was made spontaneously, in the name of "fun" it's probably more realistic to assure that there was some adherence to...

Research BPs competitors in Canadas casual dining category. List the names of other restaurant chains with properties across most of the country, and provide any available data about them, such as...

The thermoelectric effect describes the fact that when the two ends of a metal wire are kept at different temperatures, a voltage will be generated along the wire. Depending on the type of metal, the...

Write a program to wish happy birthday to a student. Firstly, take today month and day as an input and secondly take birthday as an input in the form of month and day. If the input day and month...

2. Now list, after going through a-c, three things that you want to be the impres-sion you want others to be left with after meeting you, and that you want to be lasting over time. List four points...

Relax your shoulders

Keep your head straight on your shoulders