Deposits of 10 are placed into a fund at the end of each year for 18 years with the first deposi occurring at t = 8. The effective annual interest rate is 7%. Calculate the present value of the se of payments. O 71.41 67.03 62.64 58.26
Deposits of 10 are placed into a fund at the end of each year for 18 years with the first deposi occurring at t = 8. The effective annual interest rate is 7%. Calculate the present value of the se of payments. O 71.41 67.03 62.64 58.26
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 7P
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![Deposits of 10 are placed into a fund at the end of each year for 18 years with the first deposit
occurring at t = 8. The effective annual interest rate is 7%. Calculate the present value of the series
of payments.
O 71.41
67.03
O 62.64
O 58.26
O 75.80](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F029493c5-33bb-4e98-a50c-a7e73463c048%2Fd6f32402-7407-4441-98de-6a0a2d49477e%2Ffgkhqvd_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Deposits of 10 are placed into a fund at the end of each year for 18 years with the first deposit
occurring at t = 8. The effective annual interest rate is 7%. Calculate the present value of the series
of payments.
O 71.41
67.03
O 62.64
O 58.26
O 75.80
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