Answer to Question #98995 in Financial Math for shahid

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

Expert's answer

Present value of this annuity is:

"PV = 670\u00d7\\frac{1 - (1 + 0.08\/12)^{-60}} {0.08\/12} = 33,043.35."

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