Question
What would be the present value of a yearly annuity of 105 per year for 10 years if the appropriate rate of interest is 7.5%
What would be the present value of a yearly annuity of 105 per year for 10 years if the appropriate rate of interest is 7.5% per year and the first payment starts immediately?
I would like if you could solve this using below formula. if i am wrong or if not, you may use your own.
FVAnD=PMT[r(1+r)n1](1+r)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Financial Management For Public Health And Not For Profit Organization
Authors: Steven A. Finkler
3rd International Edition
0138152772, 9780138152772
