An investment will pay $16,400 at the end of each year for eight years and a one-time payment of $164,000 at the end of the eighth year. (FV of $1, PV of $1. FVA of $1, and PVA of $1) Note: Use the appropriate factor(s) from the tables provided. Required: Determine the present value of this investment using a 6 percent annual interest rate. Note: Round your intermediate calculations and final answer to nearest whole dollar. Present value of investment

An investment will pay $16,400 at the end of each year for eight years and a one-time payment of $164,000 at the end of the eighth year. (FV of $1, PV of $1. FVA of $1, and PVA of $1) Note: Use the appropriate factor(s) from the tables provided. Required: Determine the present value of this investment using a 6 percent annual interest rate. Note: Round your intermediate calculations and final answer to nearest whole dollar. Present value of investment

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 16P

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