Need business and fiance help for investing $900 per year in an ordinary annuity

User Generated

cnhy_tnzol

Business Finance

Description

If you invest $900 per year in an ordinary annuity where interest is not taxed, what will be the amount of the annuity for each interest rate for a 30 year time period at 5%  7%  9%  11%  13%

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Explanation & Answer

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

P.V=A(1+r)^-n/r)

at 5%

pv=9000(1+0.05)^-30/0.05)

=41,647.94076

Please let me know if you need any clarification. I'm always happy to answer your questions.


Anonymous
This is great! Exactly what I wanted.

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