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The first of 12 semiannual payments of $2,700 will be made 6 years from today. What is the present value of this deferred annuity using a discount rate of 7.7% compounded semiannually? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Present value of deferred annuity $

The first of 12 semiannual payments of $2,700 will be made 6 years from today. What is the present value of this deferred annuity using a discount rate of 7.7% compounded semiannually? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Present value of deferred annuity $

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The first of 12 semiannual payments of $2,700 will be made 6 years from today. What is the present value of this deferred annuity using a discount rate of 7.7% compounded semiannually? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Present value of deferred annuity $
Transcribed Image Text:The first of 12 semiannual payments of $2,700 will be made 6 years from today. What is the present value of this deferred annuity using a discount rate of 7.7% compounded semiannually? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Present value of deferred annuity $
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