Use Table 12-2 from your text to calculate the present value of the ordinary annuity, rounding to the nearest cent. $\begin{array}{c}
\begin{array}{lll}
\text {Annuity}\
\underline{ \text {Payments}}\
\$ 1,500
\end{array}
\begin{array}{lll}
\text {Payment}\
\underline{ \text {Frequency}}\
\text {every month}
\end{array}
\begin{array}{lll}
\text {Time}\
\underline{\text {Period}}\

2 \frac{1}{2} \mathrm{yrs}

\end{array}
\begin{array}{lll}
\text {Nominal}\
\underline{\text {Rate}}\
6\%
\end{array}
\begin{array}{lll}
\text {Present Value}\
\underline{\text {of the Annuity}}\
------\
\end{array}
\end{array}$

Question

Use Table 12-2 from your text to calculate the present value of the ordinary annuity, rounding to the nearest cent. $\begin{array}{c}
\begin{array}{lll}
 \text {Annuity}\
\underline{ \text {Payments}}\
\$ 1,500 
\end{array}
\begin{array}{lll}
\text {Payment}\
\underline{ \text {Frequency}}\
\text {every month} 
\end{array}
\begin{array}{lll}
\text {Time}\
\underline{\text {Period}}\

2 \frac{1}{2} \mathrm{yrs}

\end{array}
\begin{array}{lll}
\text {Nominal}\
\underline{\text {Rate}}\
6\% 
\end{array}
\begin{array}{lll}
\text {Present Value}\
\underline{\text {of the Annuity}}\
------\
\end{array}
\end{array}$

Quizplus · Accepted Answer

The Answer of Use Table 12-2 from your text to calculate the present value of the ordinary annuity, rounding to the nearest cent. $\begin{array}{c}
\begin{array}{lll}
 \text {Annuity}\
\underline{ \text {Payments}}\
\$ 1,500 
\end{array}
\begin{array}{lll}
\text {Payment}\
\underline{ \text {Frequency}}\
\text {every month} 
\end{array}
\begin{array}{lll}
\text {Time}\
\underline{\text {Period}}\

2 \frac{1}{2} \mathrm{yrs}

\end{array}
\begin{array}{lll}
\text {Nominal}\
\underline{\text {Rate}}\
6\% 
\end{array}
\begin{array}{lll}
\text {Present Value}\
\underline{\text {of the Annuity}}\
------\
\end{array}
\end{array}$

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