Determining present value of annuity payment, Financial Accounting

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Determining present value of annuity payment

Computing the Present Value of an Annuity

Response to the following problem:

The company will receive $1,600 every six months for eight years. The company's interest rate is 10% compounded semiannually. Compute the present value of this annuity payment.

Show all work and calculations.

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Financial Accounting: Determining present value of annuity payment

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Financial Accounting: Determining present value of annuity payment

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