Which one of the following descriptions best describes horizontal integration? 1) the economic development of the American West
1 answer:
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Answer:
- <em>The annual annuity payment (PMT) will be </em><u>$750.00</u>
Explanation:
The value of a <em>annuity payment</em>, A, is equal to the present value of the future payments.
When the interest rate,r, and the <em>annual annuity payment (PMT) </em>remain constant over the entire life of the annuity, the formula for the value of the annuity is:
To caculate PMT substitute:
- A = $3,806.77
- r = 5.00% = 0.05
- t = 6 years
Compute and solve for PMT: