What is the present value of an ordinary annuity with annual payments of $660 at 9% annual interest for 25 years?Click the icon to view the table.The present value of an ordinary annuity is S(Round to the nearest cent as needed.) Present Value of a $1.00 Ordinary AnnuityRate per periodPeriods 2%3%4%5%6%7%8%9%10%10.980 0.971 0.962 0.952 0.943 0.935 0.926 0.917 0.90921.942 1.913 1.886 1.859 1.833 1.808 1.783 1.759 1.73632.884 2.829 2.775 2.723 2.673 2.624 2.577 2.531 2.48743.808 3.717 3.630 3.546 3.465 3.387 3.312 3.240 3.1704.713 4.580 4.452 4.329 4.212 4.100 3.993 3.890 3.7916.5.601 5.417 5.242 5.076 4.917 4.767 4.623 4.486 4.35576.472 6.230 6.002 5.786 5.582 5.389 5.206 5.033 4.8688.7.325 7.020 6.733 6.463 6.210 5.971 5.747 5.535 5.3358.162 7.786 7.435 7.108 6.802 6.515 6.247 5.995 5.759108.983 8.530 8.111 7.722 7.360 7.024 6.710 6.418 6.145119.787 9.253 8.760 8.306 7.887 7.499 7.139 6.805 6.495

In ordinary annuity, payment is due at the end of month. Present value of ordinary annuity can be…

What is the present value of an ordinary annuity with annual payments of $660 at 9% annual interest for 25 years? Click the icon to view the table. The present value of an ordinary annuity is S (Round to the nearest cent as needed.)

What is the present value of an ordinary annuity with annual payments of $660 at 9% annual interest for 25 years? Click the icon to view the table. The present value of an ordinary annuity is S (Round to the nearest cent as needed.)

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Concept explainers

Types of Insurance Contract

Insurance is a contract wherein an individual or entity gets financial protection from the insurance company for any damages or losses incurred. The individual or entity is called the insured, whereas the insurance company is called the insurer. The insured and the insurer enter a legal contract for a fixed term called the insurance term, and the contract is called an insurance policy.

Question

What is the present value of an ordinary annuity with annual payments of $660 at 9% annual interest for 25 years?
Click the icon to view the table.
The present value of an ordinary annuity is S
(Round to the nearest cent as needed.)

Present Value of a $1.00 Ordinary Annuity
Rate per period
Periods 2%
3%
4%
5%
6%
7%
8%
9%
10%
1
0.980 0.971 0.962 0.952 0.943 0.935 0.926 0.917 0.909
2
1.942 1.913 1.886 1.859 1.833 1.808 1.783 1.759 1.736
3
2.884 2.829 2.775 2.723 2.673 2.624 2.577 2.531 2.487
4
3.808 3.717 3.630 3.546 3.465 3.387 3.312 3.240 3.170
4.713 4.580 4.452 4.329 4.212 4.100 3.993 3.890 3.791
6.
5.601 5.417 5.242 5.076 4.917 4.767 4.623 4.486 4.355
7
6.472 6.230 6.002 5.786 5.582 5.389 5.206 5.033 4.868
8.
7.325 7.020 6.733 6.463 6.210 5.971 5.747 5.535 5.335
8.162 7.786 7.435 7.108 6.802 6.515 6.247 5.995 5.759
10
8.983 8.530 8.111 7.722 7.360 7.024 6.710 6.418 6.145
11
9.787 9.253 8.760 8.306 7.887 7.499 7.139 6.805 6.495

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