Answered: What is the Present Value of a 3-year…

What is the Present Value of a 3-year ordinary annuity of $100 at 5%? For clarity, the annuity pays $100 at the end of each year for 3 years and the relevant interest rate is 5%.

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 20E

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What is the Present Value of a 3-year ordinary annuity of $100 at 5%? For clarity, the annuity pays $100 at the end of each year for 3 years and the relevant interest rate is 5%.

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