Solved

Calculate the Present Value of an Ordinary Annuity Consisting of Payments

Question 158

Multiple Choice

Calculate the present value of an ordinary annuity consisting of payments of $5,000 each, made at the end of every three months for six years. Assume that money is worth 7.2% compounded quarterly.


A) $46,070
B) $76,295
C) $96,748
D) $105,186
E) $122,517

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q153: Cliff has a business bank loan in

Q154: Mr. Eusanio contributed $1,500 to his RRSP

Q155: Determine the future value (accurate to the

Q156: What is the present value of monthly

Q157: Calculate the periodic interest rate that matches

Q159: Classify the type of annuity described in

Q160: Your client has systematically invested $1,000 at

Q161: A 20-year mortgage requires payments of $1194.85

Q162: Determine the future value:<br><img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8414/.jpg" alt="Determine the

Q163: Determine the present value (accurate to the