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Billy has an annuity that pays him $9800 at the beginning of each year. Assume the economy will grow at a rate 3.3% annually. What is the value of the annuity if he received it …
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Billy has an annuity that pays him $9800 at the beginning of each year. Assume the economy will grow at a rate 3.3% annually. What is the value of the annuity if he received it …
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Apr 1, 2018
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Billy has an annuity that pays him $9800 at the beginning of each year. Assume the economy will grow at a rate 3.3% annually. What is the value of the annuity if he received it now instead of over a period of 10 years?
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InvalidArgument
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Hi there
if he received it now instead of over a period of 10 years then find the present value of annuity due using the formula
Pv=pmt [(1-(1+r)^(-n))÷r]×(1+r)
Pv=9,800×(((1−(1+0.033)^(−10))
÷(0.033))×(1+0.033))
=85,047.46......answer
Hope it helps
Federico Giorgi
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Apr 8, 2018
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Federico Giorgi
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