What is the value today of a 10 years annuity of $750 deposited quarterly at the...
What is the value today of a 10 years annuity of $750 deposited quarterly at the beginning of the period if the saving account pays 6% compounded interest?
Homework Answers
Present value of annuity due= payment per period * [1-(1+i)^-n]/i *(1+i)
i = interest rate per period
n = number of periods
Present value = 750 * [1-(1+0.06/4)^-40]/(0.06/4) * (1+0.06/4)
= 22773.44
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