Calculate the present worth of 15 uniform payments of $6,600 that begin 1 year from now...

Calculate the present worth of 15 uniform payments of $6,600 that begin 1 year from now at an interest rate of 14% per year.

The present worth is $???

Solutions

Expert Solution

Solution :

The present worth of 15 uniform payments of $6,600 that begin 1 year from now at an interest rate of 14% per year is = $ 40,538.3087

= $ 40,538.31 ( when rounded off to two decimal places )

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

jeff jeffy answered 1 year ago

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