Calculate the present value of an annuity of 5000 received, Financial Management

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Calculate the present value of an annuity of 5000 received

Calculate the present value of an annuity of $5,000 received annually that begins today and continues for 10 years, assuming a discount rate of 9%.

For example:

What is the monthly payment for a 30 year mortgage of $100,000 at 6% annual rate?

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Financial Management: Calculate the present value of an annuity of 5000 received

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Financial Management: Calculate the present value of an annuity of 5000 received

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