5-year regular annuity has a present value of $1,000, and if the interest rate is 10%, what is the amount of each annuity payment?

Thank you for the opportunity to help you with your question!

A=p(1+r/n)nt

$1000=p(1+0.1)5

p=$1000/(1+0.1)5

p=620.921

p=$620.92 ans

This answer is not one of the mutiple choice answers given

Secure Information

Content will be erased after question is completed.

Enter the email address associated with your account, and we will email you a link to reset your password.

Forgot your password?

Sign Up