Use the following tables to calculate the present value of a $261,000 @ 6%, 6-year bond that pays $15,660 interest annually, if the market rate of interest is 7%. Round to the nearest dollar. Present Value of $1 ¦ Present Value of Annuity of $1 Periods 5 % 6 % 7 % 10 % ¦ Periods 5 % 6 % 7 % 10 % 1 .95238 .94340 .93458 .90909 ¦ 1 .95238 .94340 .93458 .90909 2 .90703 .89000 .87344 .82645 ¦ 2 1.85941 1.83339 1.80802 1.73554 3 .86384 .83962 .81630 .75131 ¦ 3 2.72325 2.67301 2.62432 2.48685 4 .82270 .79209 .76290 .68301 ¦ 4 3.54595 3.46511 3.38721 3.16987 5 .78353 .74726 .71299 .62092 ¦ 5 4.32948 4.21236 4.10020 3.79079 6 .74622 .70496 .66634 .56447 ¦ 6 5.07569 4.91732 4.76654 4.35526 7 .71068 .66506 .62275 .51316 ¦ 7 5.78637 5.58238 5.38929 4.86842 8 .67684 .62741 .58201 .46651 ¦ 8 6.46321 6.20979 5.97130 5.33493 9 .64461 .59190 .54393 .42410 ¦ 9 7.10782 6.80169 6.51523 5.75902 10 .61391 .55839 .50835 .38554 ¦ 10 7.72173 7.36009 7.02358 6.14457 $fill in the blank 1
Use the following tables to calculate the present value of a $261,000 @ 6%, 6-year bond that pays $15,660 interest annually, if the market rate of interest is 7%. Round to the nearest dollar. Present Value of $1 ¦ Present Value of Annuity of $1 Periods 5 % 6 % 7 % 10 % ¦ Periods 5 % 6 % 7 % 10 % 1 .95238 .94340 .93458 .90909 ¦ 1 .95238 .94340 .93458 .90909 2 .90703 .89000 .87344 .82645 ¦ 2 1.85941 1.83339 1.80802 1.73554 3 .86384 .83962 .81630 .75131 ¦ 3 2.72325 2.67301 2.62432 2.48685 4 .82270 .79209 .76290 .68301 ¦ 4 3.54595 3.46511 3.38721 3.16987 5 .78353 .74726 .71299 .62092 ¦ 5 4.32948 4.21236 4.10020 3.79079 6 .74622 .70496 .66634 .56447 ¦ 6 5.07569 4.91732 4.76654 4.35526 7 .71068 .66506 .62275 .51316 ¦ 7 5.78637 5.58238 5.38929 4.86842 8 .67684 .62741 .58201 .46651 ¦ 8 6.46321 6.20979 5.97130 5.33493 9 .64461 .59190 .54393 .42410 ¦ 9 7.10782 6.80169 6.51523 5.75902 10 .61391 .55839 .50835 .38554 ¦ 10 7.72173 7.36009 7.02358 6.14457 $fill in the blank 1
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 5SE: What is an annuity?
Related questions
Question
Use the following tables to calculate the present value of a $261,000 @ 6%, 6-year bond that pays $15,660 interest annually, if the market rate of interest is 7%. Round to the nearest dollar.
| Present Value of $1 | ¦ | Present Value of Annuity of $1 | ||||||||
|
Periods
|
5 %
|
6 %
|
7 %
|
10 %
|
¦ |
Periods
|
5 %
|
6 %
|
7 %
|
10 %
|
|
1
|
.95238
|
.94340
|
.93458
|
.90909
|
¦ |
1
|
.95238
|
.94340
|
.93458
|
.90909
|
|
2
|
.90703
|
.89000
|
.87344
|
.82645
|
¦ |
2
|
1.85941
|
1.83339
|
1.80802
|
1.73554
|
|
3
|
.86384
|
.83962
|
.81630
|
.75131
|
¦ |
3
|
2.72325
|
2.67301
|
2.62432
|
2.48685
|
|
4
|
.82270
|
.79209
|
.76290
|
.68301
|
¦ |
4
|
3.54595
|
3.46511
|
3.38721
|
3.16987
|
|
5
|
.78353
|
.74726
|
.71299
|
.62092
|
¦ |
5
|
4.32948
|
4.21236
|
4.10020
|
3.79079
|
|
6
|
.74622
|
.70496
|
.66634
|
.56447
|
¦ |
6
|
5.07569
|
4.91732
|
4.76654
|
4.35526
|
|
7
|
.71068
|
.66506
|
.62275
|
.51316
|
¦ |
7
|
5.78637
|
5.58238
|
5.38929
|
4.86842
|
|
8
|
.67684
|
.62741
|
.58201
|
.46651
|
¦ |
8
|
6.46321
|
6.20979
|
5.97130
|
5.33493
|
|
9
|
.64461
|
.59190
|
.54393
|
.42410
|
¦ |
9
|
7.10782
|
6.80169
|
6.51523
|
5.75902
|
|
10
|
.61391
|
.55839
|
.50835
|
.38554
|
¦ |
10
|
7.72173
|
7.36009
|
7.02358
|
6.14457
|
$fill in the blank 1
AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
Unlock instant AI solutions
Tap the button
to generate a solution
Recommended textbooks for you