Question

Angie needs to have an annuity payment of $1,300 at the end of each year for the next 10 years. How much should she deposit now at 10% interest compounded annually, to yield this payment?

Answer 1

FV * i/(1+i)^n - 1

81.57

Answer 2

1300*.10/(1+.10)^10-1

Answer 3

1300*.10/1.5937424601=
81.569013347265089909993043047244=
81.57

Answer 4

Booty