Use Table 12-2 from your text to calculate the present value of the annuity due, rounding to the nearest cent: $$\begin{array} { l l l l l l }
\text { Annuity } & \text { Payment } & \text { Time } & \text { Nominal } & \text { Interest } & \text { Present Value } \
\underline { \text { Payments }} & \underline { \text { Frequency }} & \underline { \text { Period }} & \underline { \text { Rate } } & \underline { \text { Compounded} } & \underline { \text { of the Annuity }} \
\$ 550 & \text { everymonth } & 2 \frac { 3 } { 4 } \text { yrs } & 18 \% & \text { monthly } &
\end{array}$$

Question

Use Table 12-2 from your text to calculate the present value of the annuity due, rounding to the nearest cent: $$\begin{array} { l l l l l l } 
\text { Annuity } & \text { Payment } & \text { Time } & \text { Nominal } & \text { Interest } & \text { Present Value } \
 \underline { \text { Payments }} &  \underline { \text { Frequency }} &  \underline { \text { Period }} & \underline { \text { Rate } } &  \underline { \text { Compounded} } &  \underline { \text { of the Annuity }} \
 \$ 550 & \text { everymonth } & 2 \frac { 3 } { 4 } \text { yrs } & 18 \% & \text { monthly } &
\end{array}$$

Quizplus · Accepted Answer

The Answer of Use Table 12-2 from your text to calculate the present value of the annuity due, rounding to the nearest cent: $$\begin{array} { l l l l l l } 
\text { Annuity } & \text { Payment } & \text { Time } & \text { Nominal } & \text { Interest } & \text { Present Value } \
 \underline { \text { Payments }} &  \underline { \text { Frequency }} &  \underline { \text { Period }} & \underline { \text { Rate } } &  \underline { \text { Compounded} } &  \underline { \text { of the Annuity }} \
 \$ 550 & \text { everymonth } & 2 \frac { 3 } { 4 } \text { yrs } & 18 \% & \text { monthly } &
\end{array}$$

Use Table 12-2 from Your Text to Calculate the Present