Intermediate Accounting 14th Edition

by Kieso, Donald E.; Weygandt, Jerry J.; Warfield, Terry D.

Published by Wiley

ISBN 10: 0470587237

ISBN 13: 978-0-47058-723-2

Chapter 6 - Accounting and the Time Value of Money - Exercises - Page 343: E6-4d

Answer

Present value of an ordinary annuity of $1, 000 for 6 periods at 9% = 4,889.653

Work Step by Step

Present value of an ordinary annuity of 1000 for 6 periods at 9%: $4, 485.92 \times 1.09= 4,889.653 $ (You can confirm this answer by checking table 6-5, which presents 4,889.65).

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