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Dina Jones just learned that she received an inheritance from her grandmother. The inheritance ...

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Dina Jones just learned that she received an inheritance from her grandmother. The inheritance ...

Dina Jones just learned that she received an inheritance from her grandmother. The inheritance provides for Dina to receive $5,000 per year at the end of the year for each of the next 5 years. Assuming a discount rate of 10%, what is the value of this inheritance to Dina today?

Type of Cash Flow

Periods

Interest Rate

Factor

PV of $1	5	10%	0.6209
FV of $1	5	10%	1.6105
PV ordinary annuity	5	10%	3.7908
FV ordinary annuity	5	10%	6.1051
PV annuity due	5	10%	4.1699

▸ $30,526

▸ $20,849

▸ $18,954

▸ $15,523

Textbook

Managerial Accounting

Edition: 4^th

Author: Davis

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