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.
PV of $1 annuity = 10.675
Pof $640 annuity = 640*10.675 =6832
Present value = $6832
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