What is the value today of $5,100 per year, at a discount rate of 7.9 percent, if the first payment is received 6 years from today and the last payment is received 20 years from today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Value today
What is the value today of $5,100 per year, at a discount rate of 7.9 percent, if the first payment is received 6 years from today and the last payment is received 20 years from today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Value today
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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![**Present Value of Annuity Payment Calculation**
**Question:**
What is the value today of $5,100 per year at a discount rate of 7.9 percent, if the first payment is received 6 years from today and the last payment is received 20 years from today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
**Answer box:**
Value today [ ]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0505985e-243e-4b9e-b7a6-bbe3450b2962%2Fcf04115e-76c8-4789-8e38-ef407bef60b4%2Fxk2vjl9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:**Present Value of Annuity Payment Calculation**
**Question:**
What is the value today of $5,100 per year at a discount rate of 7.9 percent, if the first payment is received 6 years from today and the last payment is received 20 years from today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
**Answer box:**
Value today [ ]
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