Question

A company enters into a contract requiring 2 years of quarterly payments. The first payment of 1000 will bepaid at

the end of the first quarter, and each subsequent payment decreases by 3.5%. The quarterly effectiverate of interest is 2.4%%.

Calculate the present value of this annuity.

A) 6,256    B) 6,406    C) 6,638    D) 6,798    E) 6,948

Plz include some key steps

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"