You should know how to do PV on your own. Trust me, I freaked out when people here told me, but it's true. (I used to loathe PV; I realize how stupid this sounds, but even the tables scared me. I had trouble with bonds because I was scared. But I realized I had to get over that feeling or I have no hope of ever passing the CPA exam.)
Look at my history for the “what am I missing” topic so you can see the full convo.
The great and amazing thing is I can now figure out PV of $1 and PV of ordinary annuity of $1 by myself! It is a GREAT feeling. I'm going to copy/paste how I did it. But read the convo to see who originally posted how to do this.
“@stoleway inspired me to try and to see if I could figure out the PV of $1 and PV of ordinary annuity of $1 using what @raymondsfamily said.
It took awhile, but I did it!!!!!! YES!!!!!
So PV of $1, for 8%
1 year = 1/1.08 = .926
2 years = 1/(1.08*1.08) = .857
3 years = 1/(1.08*1.08*1.08) = .794
4 years = 1/(1.08*1.08*1.08*1.08) = .735
5 years = 1/(1.08*1.08*1.08*1.08*1.08) = .680
PV Ordinary Annuity of $1, 8% for 5 years = .926+.857+.794+.735+.680 = 3.992″
Good luck @after!
CPA (MA, Non-Reporting)
The difference in winning & losing is most often, not quitting - Walt Disney
B - 33, 71, 79!
A - 32, 61, 70, 83!
R - 33, 58, 73, 69, 81!
F - 47, 78! 🙂
After 3 long years, I'm finally DONE!
I could not have done it without NINJA MCQs.
Used: Roger for his Videos, WTB, and NINJA Audio, Notes and Test Bank.
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