You are scheduled to receive annual payments of 10800 for


You are scheduled to receive annual payments of $10,800 for each of the next 20 years. Your discount rate is 7 percent. What is the difference in the present value if you receive these payments at the beginning of each year rather than at the end of each year?

$11,556

$10,800

$10,632

$8,009

$8,518

What is the future value of $1,170 a year for 5 years at a 7 percent rate of interest?

$9,023.31

$6,728.36

$9,311.31

$6,259.50

$3,440.10

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Financial Management: You are scheduled to receive annual payments of 10800 for
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