Homework: Homework 3 Score: 0 of 10 pts P6-30 (similar to) 18 of 22 (17 complete
ID: 2809879 • Letter: H
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Homework: Homework 3 Score: 0 of 10 pts P6-30 (similar to) 18 of 22 (17 complete) HW Score: 56.82%, 125 of 220 pts Question Help * 18 9: (Present value of an annuity due) Determine the present value of an annuity due of $1,000 per year for 25 years discounted back to the present at an annual rate of 11 percent What would be the present value of this annuity due if it were discounted at an annual rate of 16 percent? 18 1 0 P a. If the annual dscount rato is 11 percent,the present value of the annuity due is sRound to the nearest cent) Enter your answer in the answer box and then click Check Answer to searchExplanation / Answer
Dear Student Thank you for using Chegg Please find below the answer Statementshowing Computations Paticulars At 11% At 16% Amount of Annuity 1,000.00 1,000.00 PVF for 25 years for annuity due 9.3481 7.0726 Present value of annuity due 9,348.14 7,072.63 Time PVF at 11% PVF at 16% - 1.00 1.00 1.00 0.9009 0.8621 2.00 0.8116 0.7432 3.00 0.7312 0.6407 4.00 0.6587 0.5523 5.00 0.5935 0.4761 6.00 0.5346 0.4104 7.00 0.4817 0.3538 8.00 0.4339 0.3050 9.00 0.3909 0.2630 10.00 0.3522 0.2267 11.00 0.3173 0.1954 12.00 0.2858 0.1685 13.00 0.2575 0.1452 14.00 0.2320 0.1252 15.00 0.2090 0.1079 16.00 0.1883 0.0930 17.00 0.1696 0.0802 18.00 0.1528 0.0691 19.00 0.1377 0.0596 20.00 0.1240 0.0514 21.00 0.1117 0.0443 22.00 0.1007 0.0382 23.00 0.0907 0.0329 24.00 0.0817 0.0284 PVF for 25 years for annuity due 9.3481 7.0726
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