Respuesta :
Annual payment received annually: $2,363.77.
Information Provided:
Present Value = $10,000
Hours = 6 Years
Interest Rate = 11%
Annual Payments are calculated by entering the following into the financial calculator:
PV = -10,000
N = 6
I/Y = 11 Press
CPT and PMT to calculate your monthly payment.
The resulting value is 2,363.77.
So the annual payment I receive each year is $2,363.77.
Payment is the voluntary offering of money or equivalents or anything of value by one party in exchange for goods or services to be provided or to comply with a legal obligation. The party making the payment is commonly referred to as the payer and the payee is the party receiving the payment.
Payment is the transfer of money, goods, or services in exchange for goods or services on acceptable terms and conditions previously agreed upon by all parties. Payments can be made in the form of exchange services, cash, checks, wire transfers, credit cards, debit cards, or cryptocurrencies.
An example of payment is a check written to pay a telephone bill. As an example of payment, he may pay a $100 bill using a credit card. A Pay or be paid.
Learn more about payment here: https://brainly.com/question/25793394
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