Consider the following annuity: $1,000 due at the end of each year for three years, and $2,000 due thereafer at the end of each year for three years. Assume an interest rate of 2% compounded annually to find the present value of the annuity.

Wierzycaz

Wierzycaz

Answered question

2020-12-24

Consider the following annuity: $1,000 due at the end of each year for three years, and $2,000 due thereafer at the end of each year for three years. Assume an interest rate of 2% compounded annually to find the present value of the annuity.

Answer & Explanation

bahaistag

bahaistag

Skilled2020-12-25Added 100 answers

PMT: 3000
I/Y: 2
N: 3
FV: 0
PV: ????
I'm probably wrong... I got $8,651.65

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