Following is a table for the present value of $1 at compound interest: Year 6% 1 0.943 2 0.890 0.840 0.792 0.747 10% 0.909 0.826 0.751 0.683 0.621 12% 0.893 0.797 0.712 0.636 0.567 3 4 5 Following is a table for the present value of an annuity of $1 at compound interest: Year 6% 10% 1 0.943 0.909 2 1.833 1.736 3 2.673 2.487 4. 3.465 3.170 5 4.212 3.791 12% 0.893 1.690 2.402 3.037 3.605 Using the tables provided, the present value of $6,103.00 (rounded to the nearest dollar) to be received at the end of each of the next 4 years, assuming an earnings rate of 12%, is Oa. $14,659 Ob. $6,103 Oc. $18,535 Od. $22,001

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Following is a table for the present value of $1 at compound interest:
Year 6%
1
0.943
2
0.890
3 0.840
4
0.792
5
0.747
Following is a table for the present value of an annuity of $1 at compound interest:
Year 6%
10%
1
0.943
0.909
2
1.833
1.736
2.673
2.487
3.465
3.170
4.212
3.791
10%
0.909
0.826
0.751
0.683
0.621
3
12%
0.893
0.797
0.712
0.636
0.567
12%
0.893
1.690
2.402
3.037
5
3.605
Using the tables provided, the present value of $6,103.00 (rounded to the nearest dollar) to be received at the end of each of the next 4 years, assuming an earnings rate of 12%, is
Oa. $14,659
Ob. $6,103
Oc. $18,535
Od. $22,001
Transcribed Image Text:Following is a table for the present value of $1 at compound interest: Year 6% 1 0.943 2 0.890 3 0.840 4 0.792 5 0.747 Following is a table for the present value of an annuity of $1 at compound interest: Year 6% 10% 1 0.943 0.909 2 1.833 1.736 2.673 2.487 3.465 3.170 4.212 3.791 10% 0.909 0.826 0.751 0.683 0.621 3 12% 0.893 0.797 0.712 0.636 0.567 12% 0.893 1.690 2.402 3.037 5 3.605 Using the tables provided, the present value of $6,103.00 (rounded to the nearest dollar) to be received at the end of each of the next 4 years, assuming an earnings rate of 12%, is Oa. $14,659 Ob. $6,103 Oc. $18,535 Od. $22,001
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