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Find the present value of the on annuity account necessary to fund the withdrawal given. $800 per month for 20 years, if the account earns 5% per year. PV = $

Find the present value of the on annuity account necessary to fund the withdrawal given. $800 per month for 20 years, if the account earns 5% per year. PV = $
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1 vote
Find the present value of the on annuity account necessary to fund the withdrawal given.

$800 per month for 20 years, if the account earns 5% per year.

PV = $

asked
User Mingwei Zhang
by
8.9k points

1 Answer

5 votes
800*((1- (1+0.05)^-20)) /0.05

answered
User NifCody
by
8.3k points
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