What is the present value of a loan that calls for the
payment of $500 per year for six years if the discount rate is 10 percent and
the first payment will be made one year from now? How would your answer change
if the $500 per year occurred for ten years? Please provide the formula that you used.
I had someone else answer it but the answer was incorrect. I was able to contact a tutor at my college and she walked me through it so I have the answer. I tried to withdraw the question but Studypool reposted it. Sorry to have wasted your time. I still am not sure how to withdraw this without it posting again.