108k views
3 votes
Find the present value of the annuity.

Amount Per Payment: $4,725

Payment at End of Each: 6 months

Number of Years: 15

Interest Rate: 10%

Compounded: Semiannually

1 Answer

5 votes

Pv=4,725×((1−(1+0.10÷2)^(−2
×15))÷(0.10÷2))=72,634.83
User Vasil Oreshenski
by
8.6k points