Find the present value of the ordinary annuity. (Round your answer to the nearest cent.) $130/month for 11 years at 5%/year compounded monthly $

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....
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Find the present value of the ordinary annuity. (Round your answer to the nearest cent.)
$130/month for 11 years at 5%/year compounded monthly
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Transcribed Image Text:Find the present value of the ordinary annuity. (Round your answer to the nearest cent.) $130/month for 11 years at 5%/year compounded monthly Need Help? Read It
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