Question #98995
Payments of $ 670 are being made at the end of each month for 5 years at an interest of 8% compounded monthly. Calculate the Present Value
1
Expert's answer
2019-11-21T10:52:34-0500

Present value of this annuity is:

PV=670×1−(1+0.08/12)−600.08/12=33,043.35.PV = 670×\frac{1 - (1 + 0.08/12)^{-60}} {0.08/12} = 33,043.35.


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