shamim5934 shamim5934

22-06-2021
Business

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What is the present value of a 10-year annuity of $3,000 per period in which payments come at the beginning of each period

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topeadeniran2 topeadeniran2

24-06-2021

Answer: $18984.9

Explanation:

Your question isn't complete as you didn't give the interest rate. Let's assume that the interest rate is 12%.

Therefore, the present value will be:

= 3000 + 3000[1 - (1 + 0.12)^-10+1] / 0.12

= 3000 + (3000 × 5.3283)

= 3000 + 15984.9

= 18984.9

Therefore, the present value is $18984.9

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