Answer all please Present value. A smooth-talking used-car salesman...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Answer all please
Present value. A smooth-talking used-car salesman who smiles considerably is offering you a great deal on a "pre-owned" car. He says, "For only 6 annual payments of $2,400, this beautiful 1998 Honda Civic can be yours." If you can borrow money at 6%, what is the price of this car? Assume the payment is made at the end of each year. If you can borrow money at 6%, what is the price of this car? $ 4531.40 (Round to the nearest cent.) Present value of an ordinary annuity. Fill in the missing present values in the following table for an ordinary annuity: 5. Number of Payments or Years Annual Interest Rate Future Value Annuity Present Value 10 9% 0 $197.76 (Round to the nearest cent.)
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
