公司理财(英文版)Ch04.pptVIP

4-* Annuity: Example If you can afford a $400 monthly car payment, how much car can you afford if interest rates are 7% on 36-month loans? 0 1 $400 2 $400 3 $400 36 $400 4-* What is the present value of a four-year annuity of $100 per year that makes its first payment two years from today if the discount rate is 9%? ? 0 1 2 3 4 5 $100 $100 $100 $100 $323.97 $297.22 Problem 1 2 What is the present value of a four-year annuity of $100 per year that makes its first payment two years from today if the discount rate