In: Finance
Calculate the present value of the following annuity
streams:
a. $7,000 received each year for 6 years on the
last day of each year if your investments pay 6 percent compounded
annually.
b. $7,000 received each quarter for 6 years on the
last day of each quarter if your investments pay 6 percent
compounded quarterly.
c. $7,000 received each year for 6 years on the
first day of each year if your investments pay 6 percent compounded
annually.
d. $7,000 received each quarter for 6 years on the
first day of each quarter if your investments pay 6 percent
compounded quarterly.