Using the annuity table, complete the following. (Use Table 13.2.) (Do not round intermediate calculations. Round your answer to the nearest cent.)Payment amount end of each period 1,450 Frequency of payment - Annually Length of time 7 years Interest rate 9 %PV of Annuity TABLE13-2Present value of an annuity of $1Perlod2%3%4%5%6%7%8%9%10%11%12%13%10.98040.97090.96150.95240.94340.93460.92590.91740.90910.90090.89290.88501.94161.91351.88611.85941.83341.80801.78331.75911.73551.71251.69011.668132.88392.828677512.72322.67302.62432.57712.53132.48692.44372.40182.36124.3.80773.71713.62993.54593.46513.38723.31213.23973.16993.10243.03732.97455.4.71344.57974.45184.32954.21244.10023.99273.88973.79083.69593.60483.51726.5.60145.41725.24215.07574.91734.76654.62294.48594.35534.23054.11143.99757.6.47206.23036.00215.78645.58245.38935.20645.03304.86844.71224.56384.42268.7.32557.01976.73276.46326.20985.97135.74665.53485.33495.14614 96764.79889.8.16227.78617.43537.10786.80176.51526.24695.99525.7590553705.32825.1317108.98268.53028.11097.72177.36017.02366.71016.41776.14465.88925.65025.4262119.78689.25268.76058.30647.88697.49877.13906.80526.49516.20655.93775.68691210.57539.95409.38518.86328.38387.94277.5361716076.81376.49246.19445.91761311.348310.63509.98569.39368.85278.35767.9038748697.10346.74996.42356.12181412.106211.296110.56319.89869.29508.74558.244277862 7.36676.98196.62826.30251512.849211.937911.118410.37969.71229.10798.55958.06077.60617.19096.81096.46241613.577712561111.652310.837810.10599.44668.85148.31267.82377.37926.97406.60391714291813.166112.165711.274110.47739.76329.12168.5436 8.02167.54887.11966.72911814992013.753512.6593 11.689610.827610.05919.37 198.75568.20147.70167.24976.83991915.678414.323813.133912.085311.158110.33569.60368.95018.36497.83937.36586.93802016.351414.877513.590312.462211.469910.59409.81819.12858.51367.96337.46947.02482519.523417.413115.622114.093912.783411.653610.67489.82269.07708.42177.84317.33003022.396419.600417.292015.372413.764812.409011.257810.27379.42698.69388.05527.49574027.355423.114819.792817.159115.046313331711.924610.75749.77908.95118.24387,63445031.4236 25.729821.482218.255915.7619 13.800712.233510.96179.91489.04178.30457.6752

Given information Payment = $1,450 Interest rate = 9% Period = 7 years Present value (PV) of annuity = Amount x PV of annuity factor (9%, 7 years ) Present value (PV) of annuity = Amount x PV of annuity factor (9%, 7 years ) = $1450 x 5.0330 = $7,297.85 PV of annuity = $7,297.85 PV of annuity means, present value of future cash flows To get PV of annuity factor, see 9% column in the table and period 7 column. Annuity factor (5.0330) is at intersection of 9% and period 7.

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Using the annuity table, complete the following. (Use Table 13.2.) (Do not round intermediate calculations. Round your answer to the nearest cent.) Payment amount end of each period 1,450 Frequency of payment - Annually Length of time 7 years Interest rate 9 % PV of Annuity

Using the annuity table, complete the following. (Use Table 13.2.) (Do not round intermediate calculations. Round your answer to the nearest cent.) Payment amount end of each period 1,450 Frequency of payment - Annually Length of time 7 years Interest rate 9 % PV of Annuity

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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