Homework Answers
Present value of annuity=Annuity[1-(1+interest rate)^-time period]/rate
=34000[1-(1.12)^-17]/0.12
=34000*7.11963
=$242067.42
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Click here to view the factor table.
(For calculation purposes, use 5 decimal places as
displayed in the factor table provided.)
What amount should Robben Company pay for this investment if it
earns an 9% return? (Round answer to 2 decimal places,
e.g. 25.25.)
Robben Company should pay
$
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Robben Company is considering investing in an annuity contract
that will return $27,500 annually at the end of each year for 13
years.
Click here to view the factor table.
(For calculation purposes, use 5 decimal places as
displayed in the factor table provided.)
What amount should Robben Company pay for this investment if it
earns an 9% return? (Round answer to 2 decimal places,
e.g. 25.25.)
Robben Company should pay
$
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