Compute the present value of an ordinary annuity that pays $13,000 per year for 15 years at 10%.
Present value of ordinary annuity of $1:
7%
8%
9%
10%
12%
11
7.499
7.139
6.805
6.495
5.938
12
7.943
7.536
7.161
6.814
6.194
13
8.358
7.904
7.487
7.103
6.424
14
8.745
8.244
7.786
7.367
6.628
15
9.108
8.559
8.061
7.606
6.811