1. Complete the following for the present value of an ordinary annuity. (Use Table13.2.) (Do not round intermediate calculations. Round your answer to the nearest cent.)
| Amount of annuity expected |
Payment |
Time |
Interest
rate |
Present value (amount needed now to invest to receive annuity) |
| $710 |
Annually |
5 Years |
7% |
$ |
2. Complete the following for the present value of an ordinary annuity. (Please use the following provided Table.) (Do not round intermediate calculations. Round your answer to the nearest cent.)
| Amount of annuity expected |
Payment |
Time |
Interest
rate |
Present value (amount
needed now to invest
to receive annuity) |
| $16,000 |
Quarterly |
5 Years |
8% |
$ |
3. Using the sinking fund Table13.3, complete the following: (Do not round intermediate calculations. Round your answer to the nearest cent.)
Required
amount |
Frequency of payment |
Length of time |
Interest
rate |
Payment amount
end of each period |
| $ |
25,900 |
Quarterly |
6 Years |
8% |
$ |
4. Using the sinking fund, complete the following. (Use Table13.1). (Do not round intermediate calculations. Round your answer to the nearest cent.)
| Payment amount end of each period |
Frequency of payment |
Length of time |
Interest
rate |
Required
amount |
| $1,500 |
Annually |
8 Years |
8% |
$ |