Find the present value of the following ordinary deferred annuity. Periodic Made Payment Period Period of Deferment Interest Conversion Payment At: Term Rate Period $310 end year 8 years 4 years 11% quarterly
Find the present value of the following ordinary deferred annuity. Periodic Made Payment Period Period of Deferment Interest Conversion Payment At: Term Rate Period $310 end year 8 years 4 years 11% quarterly
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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( please give correct answer within 10 minutes i will give thumbs up)
Transcribed Image Text:Find the present value of the following ordinary deferred annuity.
Periodic
Made
Payment
Period
Period of
Interest
Conversion
Payment
At:
Deferment
Term
Rate
Period
$310
end
1 year
8 years
4 years
11%
quarterly
The present value of the ordinary deferred annuity is $ 3434
(Pound the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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