Asked by Scott Ingraham

Jane Frost wants to receive yearly payments of 15000 for 10 years. How much must she deposit at her bank today at 11% intrest compounded annually? I come up it by using calculator the following 15000 +/-
Answered by Reiny
Present Value = 15000((1 - 1.11^10)/.11
Answered by tchrwill
Present Value =
15000[(1 - 1.11^(-10))]/.11
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