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FVA = PMT((1+(r/12)~t(12))-1)/(r/12) PVA = PMT((1-(1+(r/12))~-t(12)))/(r/12) Using the formulas above, calculate the following 2) What is the present value of annuity that has MONTHLY payments

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FVA = PMT((1+(r/12)~t(12))-1)/(r/12) PVA = PMT((1-(1+(r/12))~-t(12)))/(r/12) Using the formulas above, calculate the following 2) What is the present value of annuity that has MONTHLY payments of $1,500 for 10 years if the annual interest rate is 5.25%

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