This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The formula for the Future Value Interest Factor of an Annuity (FVIFA) is . Indicate whether the ... (Read 30 times)

hubes95

  • Hero Member
  • *****
  • Posts: 561
on: Jul 10, 2018
The formula for the Future Value Interest Factor of an Annuity (FVIFA) is .
 
  Indicate whether the statement is true or false.

Question 2

The furniture store offers you no-money-down on a new set of living room furniture.
 
  Further, you may pay for the furniture in three equal annual end-of-the-year payments of 1,000 each with the first payment to be made one year from today. If the discount rate is 6, what is the present value of the furniture payments?
  A) 3,183.60
  B) 3,000.00
  C) 2,833.39
  D) 2,673.01


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

deja

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jul 10, 2018
Answer to Question 1

Answer: TRUE

Answer to Question 2

Answer: D
Explanation: D)
PV = PMT  = 1,000  = 2,673.01.
MODE = END
INPUT 3 6 ? -1,000 0
KEY N I/Y PV PMT FV
CPT 2,673.01


hubes95

  • Member
  • Posts: 561
Reply 2 on: Jul 10, 2018
Wow, this really help

patma1981

  • Member
  • Posts: 292
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

How to factor a trinomial by decomposition How to factor a trinomial by decomposition
How to calculate annuity when compounded quarterly (Part 2) How to calculate annuity when compounded quarterly (Part 2)
How to derive the quadratic formula How to derive the quadratic formula
The striking structural similarity between the translocation factor EF-G (right) and the ternary The striking structural similarity between the translocation factor EF-G (right) and the ternary
How to calculate compound interest (Part 2) How to calculate compound interest (Part 2)
Which of the following is not a unit factor related to a 15.0% aqueous solution Which of the following is not a unit factor related to a 15.0% aqueous solution
Video: Stroke volume - afterload definition & hypertension

For a complete list of videos, visit our video library