What is the present value of an annuity with payments of $ 80, 000.00 $80,000.00 paid annually for 25 25 years at 6 % 6% compounded annually? Assume the interest rate does not change while the account is open. Round your answer to the nearest cent.
What is the present value of an annuity with payments of $ 80, 000.00 $80,000.00 paid annually for 25 25 years at 6 % 6% compounded annually? Assume the interest rate does not change while the account is open. Round your answer to the nearest cent.
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
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College