What is the present value of a series of payments received each year for 9 years, starting with $300 paid one year from now and the payment growing in each subsequent year by 3%? Assume a discount rate of 5%.

Question
Calculating Present Values and Growing Annuity Perpetuity

1. What is the present value of a series of payments received each year for 9 years, starting with $300 paid one year from now and the payment growing in each subsequent year by 3%? Assume a discount rate of 5%.

Please round your answer to the nearest cent.

1. What is the present value of a series of payments received each year for 6 years, starting with $500 paid one year from now and the payment growing in each subsequent year by 5%? Assume a discount rate of 8%.

Please round your answer to the nearest cent.

1. What is the present value of a series of payments received each year forever, starting with $100 paid one year from now and the payment growing in each subsequent year by 6%? Assume a discount rate of 9%.

Please round your answer to the nearest cent.

1. What is the present value of a series of payments received each year forever, starting with $400 paid one year from now and the payment growing in each subsequent year by 9%? Assume a discount rate of 11%.

Please round your answer to the nearest cent.

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