Compute the present value of payments made in years

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Reference no: EM131063199

1. Given a 6 percent interest rate, compute the present value of payments made in years 1, 2, 3, and 4 of $1,150, $1,350, $1,350, and $1,650. (Do not round intermediate calculations and round your final answer to 2 decimal places.)

2. What’s the interest rate of a 9-year, annual $3,300 annuity with present value of $20,000? (Round your answer to 2 decimal places.)

Reference no: EM131063199

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