What is the present value of an annuity that pays $6,500 per year for 9 years...

What is the present value of an annuity that pays $6,500 per year for 9 years with a 11% interest rate with the first payment TODAY.

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Expert Solution

Solution :

The present value of an annuity = $ 39,949.80

= $ 39,950 ( when rounded off to the nearest whole number )

Please find the attached screenshot of the excel sheet containing the detailed calculation for the solution.

jeff jeffy answered 3 weeks ago

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