Asked by Thomas
Find the lump sum deposited today that will yield the same total
amount as payments of $10,000 at the end of each year for 15 years at a
rate of 4% compounded annually.
amount as payments of $10,000 at the end of each year for 15 years at a
rate of 4% compounded annually.
Answers
Answered by
Reiny
Present value
= 10000 (1 - 1.04^-15)/.04
= ....
= 10000 (1 - 1.04^-15)/.04
= ....
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