Find the lump sum depouted today that will yield the same total amount as payments of 513.000 ot the end of each year for 12 years, at an interest rate of 7% compounded annually.The lump sum is(Round to the rearest cen)

Present Value of Annuity: With respect to annuities, the present value of a contract is the current…

Find the lump sum deposted today that will yeld the same total amount as payments of $13.000 at the end of each year for 12 years, at an interest rate of 7% compounded annually The lunp sum is Round to the rearest cent)

Find the lump sum deposted today that will yeld the same total amount as payments of $13.000 at the end of each year for 12 years, at an interest rate of 7% compounded annually The lunp sum is Round to the rearest cent)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 5P

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Find the lump sum depouted today that will yield the same total amount as payments of 513.000 ot the end of each year for 12 years, at an interest rate of 7% compounded annually.
The lump sum is
(Round to the rearest cen)

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