Compute the present value of an ordinary annuity that pays $13,000 per year for 15 years at 10%
Present value of annuity of $1:
7% 8% 9% 10% 12%
11 7.499 7.139 6.805 6.495 5.938
12 7.943 7.536 7.161 6.814 6.194
13 8.358 7.904 7.487 7.103 6.424
14 8.745 8.244 7.786 7.367 6.628
15 9.108 8.559 8.061 7.606 6.811
A) $98,878
B) $99,745
C) $97,578
D) $100,178
A .Annuity 13,000
Present value Factor 7.606
Present value ($13,000 x 7.606 ) $98,878
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