The present value of ordinary annuities where annuity payment is $ 8 , 500 , frequency of payment is 3 months, time duration is 3 years, nominal rate of return is 4 % and interest is compounded quarterly.

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these are solutions to a tutorial that was done and im a little lost. can someone please explain to me how these iterations function, for example i Do not know how each set of matrices produces a number if someine could explain how its done and provide steps it would be greatly appreciated thanks.

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Chapter 12.II, Problem 5RE

To determine

To calculate: The present value of ordinary annuities where annuity payment is $8,500, frequency of payment is 3 months, time duration is 3 years, nominal rate of return is 4% and interest is compounded quarterly.

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these are solutions to a tutorial that was done and im a little lost. can someone please explain to me how these iterations function, for example i Do not know how each set of matrices produces a number if someine could explain how its done and provide steps it would be greatly appreciated thanks.

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