8. An annuity consists of 40 payments of $300 each, made at intervals of 3 months. Interest isat r= 12%. Find the value of this annuity 4 years and 3 months before the firstpayment.($4,501.06)

Value of an annuity is the present value of the payments from the annuity based on the time value of…

Answered: An annuity consists of 40 payments of…

An annuity consists of 40 payments of $300 each, made at intervals of 3 months. Interest is r = 12%. Find the value of this annuity 4 years and 3 months before the first yment.($4,501.06)

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 15E

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8. An annuity consists of 40 payments of $300 each, made at intervals of 3 months. Interest is
at r= 12%. Find the value of this annuity 4 years and 3 months before the first
payment.($4,501.06)

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