The present value of an annuity is given. Find the periodic payment. (Round your final answer to two decimal places.) Present value = $6200, and the interest rate is 7.2% compounded quarterly for 4 years.

The present value of an annuity is given. Find the periodic payment. (Round your final answer to two decimal places.) Present value = $6200, and the interest rate is 7.2% compounded quarterly for 4 years.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....

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The present value of an annuity is given. Find the periodic payment. (Round your final answer to two decimal places.)

Present value = $6200, and the interest rate is 7.2% compounded quarterly for 4 years.

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