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E9-15(Algo) Computing a Present Value Involving an Annuity and a Single Payment LO 9-7 ...

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Accounting

E9-15(Algo) Computing a Present Value Involving an Annuity and a Single Payment LO 9-7
An investment will pay $16,400 at the end of each year for eight years and a one-time payment of $164,000 at the end of the eighth year.
Note: Use Excel.
Required:
Determine the present value of this investment using a 6 percent annual interest rate.
Note: Round your final answer to the nearest whole dollar.
Present value of investment
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