Question

For each of the following annuities, calculate the present value. (Do not round intermediate calculations and...

For each of the following annuities, calculate the present value. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Present Value Annuity Payment Years Interest Rate
$2,550 7 8 %
$1,445 9 7
$12,955 20 9
$32,900 26 11

Homework Answers

Answer #1

Annuity 1.

Using financial calculator to calculate the present value of annuity

Inputs: N= 7

I/y= 8%

Pmt= 2,550

Fv= 0

Pv= compute

We get, present value of annuity 2,550 as $13,276.24

Annuity 2

Using financial calculator to calculate the present value of annuity

Inputs: N= 9

I/y= 7%

Pmt= 1,445

Fv= 0

Pv= compute

We get, present value of annuity 1,445 as $9,414.51

Annuity 3

Using financial calculator to calculate the present value of annuity

Inputs: N= 20

I/y= 9%

Pmt= 12,955

Fv= 0

Pv= compute

We get, present value of annuity 12,955 as $118,260.31

Annuity 4

Using financial calculator to calculate the present value of annuity

Inputs: N= 26

I/y= 11%

Pmt= 32,900

Fv= 0

Pv= compute

We get, present value of the annuity 32,900 as $279,257.12

All the answers are in bold

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