Question

-What is the present value of a $800 annuity payment over six years if interest rates are 10 percent?

Answer 1

Answer:

1417.2488 for the first one

9 percent - 1341.680089

11 percent - 1496.331642

Step-by-step explanation:

Attached you'll find my calculator work!

I don't know the exact formula so ill use my own variables to describe what i did!

A = P(1 + n)^t

A = End result / how much money is left

P = initial principle (initial starting amount)

n = interest rate in decimal / rate of growth

t = time

So essentially, your initial amount is 800, your interest is 0.11, 0.10, 0.09, and your time is 6. So you plug those values in and you can find your answers