Present value of the same annuity due
Problem:
If the present value of an ordinary, 10-year annuity is $5,000 and interest rates are 7 percent, what's the present value of the same annuity due?
Note: Please show how you came up with the solution.
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The Bear Rug has sales of $822,500. The cost of goods sold is equal to 63 percent of sales. The beginning accounts receivable balance is $41,000 and the ending accounts receivable balance is $38,000.
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