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Find the present value of the annuity. Amount Per Payment: $6,225 Payment at End of Each: Quarter Number of Years: 6 Interest Rate: 8% Compounded: Quarterly

Find the present value of the annuity. Amount Per Payment: $6,225 Payment at End of Each: Quarter Number of Years: 6 Interest Rate: 8% Compounded: Quarterly
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3 votes
Find the present value of the annuity.

Amount Per Payment: $6,225

Payment at End of Each: Quarter

Number of Years: 6

Interest Rate: 8%

Compounded: Quarterly

asked
User Freestyle
by
8.4k points

1 Answer

2 votes
Yeah

Pv=6,225×((1−(1+0.08÷4)^(−4
×6))÷(0.08÷4))=117,739.19

Hope it helps
answered
User Regene
by
8.9k points
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