What is the present value of $5,000 paid at the end of each of the next 89 years if the interest rate is 6% per year? The present value is $ (Round to the nearest cent.)
What is the present value of $5,000 paid at the end of each of the next 89 years if the interest rate is 6% per year? The present value is $ (Round to the nearest cent.)
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 7Q
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Question
What is the present value of
$5,000
paid at the end of each of the next
89
years if the interest rate is
6%
per year?
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