Asked by Mary Ann

evaluate an ordinary annuity for
A=M [1 + r over n]^nt -1
____________
rn

For m,r,t $150;80%;40 year
Assume monthly payments round to the nearest cents.
Thank you for your help.
Answered by Steve
what, no calculator?

150((1+.8/1)^(40)-1)/(.80*1)

I'm assuming n=1, since you don't say...

you can figure the answer, but I seriously doubt there is an 80% annuity out there...
Answered by Mary Ann
thank you for your help Steve sorry if I put you out of your way.
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