Question #270496

Find the present value of the amount php 7,500 payable at the end of each month for 10years if money is invented at 5% compounded monthly


1
Expert's answer
2021-11-24T13:06:22-0500

The present value of an annuity is: PV=7,500×11/(1+0.05/12)1200.05/12=707,110.13.PV = 7,500×\frac{1 – 1/(1+0.05/12)^{120} } {0.05/12} = 707,110.13.



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