Asked by Hilda
                Calculate the present value of the annuity. (Round your answer to the nearest cent.)
$1600 monthly at 6.6% for 30 years.
            
        $1600 monthly at 6.6% for 30 years.
Answers
                    Answered by
            Reiny
            
    Using the formula that you must know:
PV = payment( 1 - (1+i)^-n )/i
i = .066, n = 30
 
plug in those values in your calculator and calculate.
Let me know what you got.
    
PV = payment( 1 - (1+i)^-n )/i
i = .066, n = 30
plug in those values in your calculator and calculate.
Let me know what you got.
                                                    There are no AI answers yet. The ability to request AI answers is coming soon!
                                            
                Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.