Edgardogimongalaidn
Answered

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annual payment of 15,000 for seven years at 12% compounded annually​

Sagot :

Danrylldavealintanahidn

Answer:

Use this formula to find the PV of 12 annual payments of 15,000 each.

2 - PV=0; P=15000; R=0.09; N=12; P*(((1 + R)^N - 1)*((1 + R)^-N)* R^-1)

3 - PV==107,410.88 - PV of 12 annual payments.

4 - But the above PV is 3 years from now. So, we have to calculate its value as of today.

5 - PV ==107,410.88 / 1.09^3 ==82,940.91 - Its PV as of today.

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