Present Value of an Annuity Determine the present value of $320,000 to be received at...
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Accounting
Present Value of an Annuity Determine the present value of $320,000 to be received at the end of each of four years, using an interest rate of 7%, compounded annually, as follows:
a. By successive computations, using the present value table in Exhibit 4. Round to the nearest whole dollar.
First year $.......
Second Year $.......
Third Year $........
Fourth Year $.......
Total present value $........
b. By using the present value table in Exhibit 5. Round to the nearest whole dollar. $......
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