9514 1404 393
Answer:
7. $10,459.28
8. $30,060.93
Step-by-step explanation:
Your table 12-2 will tell you the present-value multiplier of the annual payment for a 10-year annuity due will be ...
7%: 7.515232
11%: 6.537048
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7. The 11% table value will be used with a payment of $1600 to find the present value:
6.537048 × $1600 = $10,459.28 . . . present value of the annuity due
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8. The 7% table value will be used with a payment of $4000 to find the present value:
7.515232 × $4000 = $30,060.93 . . . present value of the annuity due
