What is the present value of $3,000 per year for 9 years discounted back to the present at 10 percent?
1 answer:
Answer:
$17,277.07
Step-by-step explanation:
Present value of annuity is the present worth of cash flow that is to be received in the future, if future value is known, rate of interest is r and time is n then PV of annuity is
PV of annuity =
=
=
=
=
=
= 17,277.071448 ≈ $17,277.07
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