Use Table 12-2 from your text to calculate the present value of the annuity due, rounding to the nearest cent:
Annuity
Payment
Time
Nominal
Interest
Present Value
Payments
Frequency
Period
Rate
Compounded
of the Annuity
$12,500
every year
20 years
7%
annually
__________
What will be an ideal response?
$141,695.00
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