Problem 5-6 Present Value of an Annuity Due (LG5-6)
If the present value of an ordinary, 6-year annuity is $5,600 and interest rates are 7.5 percent, what’s the present value of the same annuity due?
Note: Round your percentage answer to 2 decimal places (i.e., 0.1234 should be entered as 12.34).