The present value of an ordinary annuity of 2,350 each year for 8 years, assuming an opportunity cost of 11 percent, is: (Round to the nearest whole dollar.)
A) 1,020
B) 27,869
C) 18,800
D) 12,093
Question 2
The table shows a series of deposits at different dates into a savings account. If the account pays 10.5 interest (compounded annually), what is their future value at year 6?
Year Cash Flow
1 35,000
2 7,000
3 13,000
4 15,000
5 5,000
A) 109,477.35
B) 99,074.53
C) 75,000.00
D) 107,569.55
E) 97,790.50
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