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Len [333]
3 years ago
8

4. An investment offers $10,000 per year for 20 years. If an investor can earn 6 percent annually on other investments, what is

the current value of this investment
Business
1 answer:
telo118 [61]3 years ago
8 0

Answer:

PV= $114,699.21

Explanation:

Giving the following information:

Annual payment= $10,000

Number of years= 20

Interest rate= 6%

<u>To calculate the present value, we need to use the following formula:</u>

PV= A*{(1/i) - 1/[i*(1 + i)^n]}

A= annual payment

PV= 10,000*{(1/0.06) - 1 / [0.06*(1.06^20)]}

PV= $114,699.21

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