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Maddy Christiansen received $2,900 today July 1, 2015, from her annuity. Ms. Christiansen has been receiving similar payments on the first of each month for
Maddy Christiansen received $2,900 today July 1, 2015, from her annuity. Ms. Christiansen has been receiving similar payments on the first of each month for several years from an annuity that will expire on September 1, 2018. If she discounts the future cash flows at an annual rate of 8%, what is the present value of her annuity including the July 1 payment? Assume that the APR is compounded monthly. (Round your intermediate calculations to 4 decimal places. Round the final answer to 2 decimal places. Omit $ sign in your response.) PVA due $O
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