What is the present value of an annuity that pays 20000 per


1. Mr. Jacobs needs $5,000 in three years. If the interest rate on his investment account is 8.4% compounded monthly, how much should he put into his account at the end of each month to have $5,000 in three years?

2. What is the present value of an annuity that pays $200.00 per month for 5 years if money is worth 6% compounded monthly?

Solution Preview :

Prepared by a verified Expert
Finance Basics: What is the present value of an annuity that pays 20000 per
Reference No:- TGS01572596

Now Priced at $10 (50% Discount)

Recommended (94%)

Rated (4.6/5)