Use Table 12-2 from Your Text to Calculate the Present

question 50

Short Answer

Use Table 12-2 from your text to calculate the present value of the ordinary annuity, rounding to the nearest cent. $$\begin{array} { l l l l l } \text { Annuity } & \text { Payment } & \text { Time } & \text { Nominal } & \text { Present Value } \\\text { Payments } & \text { Frequency } & \underline { \text { Period } } & \underline { \text { Rate } } & \text { of the Annuity } \\\hline \$ 1,000 & \text { every } 3 \text { months } & 1 \frac { 3 } { 4 } \mathrm { yrs } & 12 \% & \\\end{array}$$

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Definitions:

Longitudinal

A research methodology that involves repeated observations of the same variables (e.g., people) over short or long periods of time to detect changes.

Attrition

The process of reducing something's number, size, or strength gradually, often referring to the loss of participants in research or workforce reduction.

Time-consuming

Describes tasks or activities that require a considerable amount of time to complete.

Emotional Harm

Psychological damage that occurs as a result of actions or words that negatively affect an individual's emotional well-being and stability.