Find the present value of an ordinary annuity which has payments of $1600 per year for 8 years at 9% compounded annually.

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 20E
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Find the present value of an ordinary annuity which has payments of $1600 per year for 8 years at 9% compounded
annually.
Transcribed Image Text:Find the present value of an ordinary annuity which has payments of $1600 per year for 8 years at 9% compounded annually.
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