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Answer to Question #119501 in Financial Math for Piya
Question #119501
I. Find the present and future value of $1000 received every month end for 20 years if the interest rate is J12 = 12% p.a.
Expert's answer
Present value of the annuity is:
"PV = 1000*\\frac{1 - (1 + 0.12)^{-20}}{0.12} = 7,469.44."
The future value of the annuity is:
"FV = 1000*\\frac{(1 + 0.12)^{20} - 1}{0.12} = 72,052.44."
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Dear Reynold Hinge, please use the panel for submitting new questions.
II. Find the present value of $10,000 received at the start of every year for 20 years if the interest rate is J1 = 12% p.a. and if the first payment of $10,000 is received at the end of 10 years.
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