Exercise 6-05 (Part Level Submission)

Using the appropriate interest table, compute the present values of the following periodic amounts due at the end of the designated periods.

(a)

$54,700 receivable at the end of each period for 8 periods compounded at 11%. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Present value

$enter the present value in dollars rounded to 0 decimal places Entry field with incorrect answer now contains modified data