Multiple Choice
What is the present value of an annuity of $100 received at the end of each year for seven years? The first payment will be received one year from today (round to nearest $10) . The discount rate is 13%. To solve this problem with a financial calculator, the correct choice is
A) N=7, i=13, PMT= 100, FV=0, solve for PV.
B) N=7, i=13, PV= 100, FV=0, solve for FV.
C) N=7, i=13, PMT= 100, FV=100, solve for PV.
D) N=7, i=.13, PMT= 100, FV=0, solve for PV.
Correct Answer:
Verified
Correct Answer:
Verified
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