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 +/-

Question

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 +/-

Reiny · Answer

Present Value = 15000((1 - 1.11^10)/.11

tchrwill · Answer

Present Value = 15000[(1 - 1.11^(-10))]/.11