Use a calculator to evaluate the present value of an annuity formula [P=mleft[frac{1-left(1+frac{r}{n}ight)^{-n t}}{frac{r}{n}}ight]] for the values
Question:
Use a calculator to evaluate the present value of an annuity formula
\[P=m\left[\frac{1-\left(1+\frac{r}{n}ight)^{-n t}}{\frac{r}{n}}ight]\]
for the values of the variables \(m, r\), and \(t\) (respectively) given in Problems 5-12. Assume \(n=12\).
\(\$ 50 ; 8 \% ; 5\) yr
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The present value of an annuity can be calculated using the following formula P m 1 1 rnnt rn where ...View the full answer
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