Club recently borrowed money and agreed to pay it back with a series of six annual payments of $5,500 each. At the H borrowed additional money and agreed to pay it back with a series of four annual payments of $8,250 each. The an rate for both loans is 9%. (PV of $1. FV of $1. PVA of $1, and FVA of $1) (Use factor(s) from the tables provided. Round to nearest whole dollar. Round "Table Factor" to 4 decimal places.) lete this question by entering your answers in the tabs below. ed 1 Required 2 correct table to find the present value of these two separate annuities. (Round amounts to the nearest dollar.) First Annuity. Number of Single Future Interest Rate Table Factor Present Value
Club recently borrowed money and agreed to pay it back with a series of six annual payments of $5,500 each. At the H borrowed additional money and agreed to pay it back with a series of four annual payments of $8,250 each. The an rate for both loans is 9%. (PV of $1. FV of $1. PVA of $1, and FVA of $1) (Use factor(s) from the tables provided. Round to nearest whole dollar. Round "Table Factor" to 4 decimal places.) lete this question by entering your answers in the tabs below. ed 1 Required 2 correct table to find the present value of these two separate annuities. (Round amounts to the nearest dollar.) First Annuity. Number of Single Future Interest Rate Table Factor Present Value
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:C&H Ski Club recently borrowed money and agreed to pay it back with a series of six annual payments of $5,500 each. At the same
time, C&H borrowed additional money and agreed to pay it back with a series of four annual payments of $8,250 each. The annual
interest rate for both loans is 9%. (PV of $1. FV of $1, PVA of $1, and FVA of $1) (Use factor(s) from the tables provided. Round
answers to nearest whole dollar. Round "Table Factor" to 4 decimal places.)
Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Use the correct table to find the present value of these two separate annuities. (Round amounts to the nearest dollar.)
First Annuity
Number of
Periods
Interest Rate
Single Future
Payment
Table Factor = Present Value
First payment
1
9%
$
5,500 x
Second payment
2
9%
5,500 x
=
Third payment
3
9%
5,500 x
==
Fourth payment
4
9%
5,500 x
=
Fifth payment
5
9%
5,500 x
=
Sixth payment
9%
5,500 x
Second Annuity.
Number of
Periods
Interest Rate
Single Future
x
Table Factor
Present Value
Payment
First payment
1
9%
$
8,250 x
Second payment
2
9%
8,250 x
=
Third payment
3
9%
8,250 x
Fourth payment
4
9%
8,250 x
=
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