# Answered Essay: Using the appropriate interest table, compute the present values of the periodic amounts, du

Exercise 6-5 (Part Level Submission)

Using the appropriate interest table, compute the present values of the periodic amounts, due at the end of the designated periods.

(a)

(Use the table below.)

\$51,090 receivable at the end of each period for 7 periods compounded at 12%. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

 Present value \$
 Attempts: 1 of 3 used

(b)

(Use the table below.)

\$51,090 payments to be made at the end of each period for 16 periods at 10%. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

 Present value \$

(a) Present value = Annuity × Present value factor of annuity table(12%,7 periods) = \$51,090 × 4.56376 = \$233,162

(b) Present value = Annuity × Present value factor of annuity table(10%,16 periods) = \$51,090 × 7.82371 = \$399,713

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