An investment will pay $15,500 at the end of each year for eight years and a...
An investment will pay $15,500 at the end of each year for eight years and a one-time payment of $155,000 at the end of the eighth year. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.)
Determine the present value of this investment using a 6% annual
interest rate
Homework Answers
ANSWER:
Here, we have to calculate present value of annuity PLUS present value of single sum
Therefore,
Present value of annuity = annuity x PVAF
= $15500 x 6.210
= $96255
Where, PVAF(6%, 8) = 6.210
And,
Present value of single sum = single sum x PVF
= $155000 x 0.627
= $97185
Where, PVF(6%, 8) = 0.627
Therefore, present value of the investment = $96255 + $97185
= $193440
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