The firs t pay ment is to be one month from today

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Unformatted text preview: dis c ounted at a monthly interes t rate of 1½ perc ent. The firs t pay ment is to be one month from today . (Round your PV fa ctor to 3 de cim a l pla ce s, inte rm e dia te a nd fina l a nsw e r to the ne a re st dolla r a m ount. Om it the "$" sign in your re sponse .) Pres ent value $ 15,318 d. Determine the pres ent value of $25,000 to be rec eived annually for the firs t three y ears , followed by $15,000 to be rec eived annually for the nex t two y ears (total of five y ears in whic h c ollec tions are rec eived), dis c ounted at an annual rate of 8 perc ent. As s ume c ollec tions oc c ur at y ear-end. (Round your PV fa ctor to 3 de cim a l pl...
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This note was uploaded on 01/30/2014 for the course ACC 111 taught by Professor Angela during the Fall '08 term at Delaware County CC.

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