Question: Problem 9-28 Annuity due [LO9-4] What is the present value of a 6-year annuity of $1,500 per period in which payments come at the beginning

Problem 9-28 Annuity due [LO9-4]

What is the present value of a 6-year annuity of $1,500 per period in which payments come at the beginning of each period? The interest rate is 12 percent. Use Appendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods. When using Appendix D to find the present value of this annuity due, subtract 1 from n and add 1 to the table value. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

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