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Problem 5-11 Present Value of an Annuity Due (LG5-E If the present value of an ordinary, 7-year annuity is $5,700 and interest rates are 8.5 percent, what's the present value of the same annuity due? (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Present value $ 29,175.53X

Problem 5-11 Present Value of an Annuity Due (LG5-E If the present value of an ordinary, 7-year annuity is $5,700 and interest rates are 8.5 percent, what's the present value of the same annuity due? (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Present value $ 29,175.53X

Essentials Of Investments
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
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Problem 5-11 Present Value of an Annuity Due (LG5-6) If the present value of an ordinary, 7-year annuity is $5,700 and interest rates are 8.5 percent, what's the present value of the same annuity due? (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Present value $ 29,175.53X
Transcribed Image Text:Problem 5-11 Present Value of an Annuity Due (LG5-6) If the present value of an ordinary, 7-year annuity is $5,700 and interest rates are 8.5 percent, what's the present value of the same annuity due? (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Present value $ 29,175.53X
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