Question: This is a problem for the Financial calculator. The answer is B according to the answer sheet. Please show all work. 20) Find the present

This is a problem for the Financial calculator. The answer is B according to the answer sheet. Please show all work.

This is a problem for the Financial calculator. The answer is

20) Find the present value (as of today) of a 5-yr ordinary annuity with $500 payments where the first payment is received at the end of the 3rd year and the last payment is received at the end of the 7th year (no cash flows in 1st and 2nd year). Use a 10% discount rate. A) $ 1,953.48 B) $1,566.44 C) $1,403.75 D) $ 1,787.96 E) $1,895.39

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