Business Finance
Business and Finance

Question Description

What is the present value of an ordinary annuity with annual payments of $640 at 8% annual interest for 25 years? Use 10.675 from table for 8% at 25 years. Round to nearest cent as needed.

Final Answer

PV of $1 annuity = 10.675

Pof $640 annuity = 640*10.675 =6832

Present value = $6832

madhavant (2757)
UIUC

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