What is the discounted value of payments of $60.00 made at the end of each month for 2.25 years if interest is 5 % compounded monthly
PVOrdinary Annuity = C*[(1-(1+i/100)^(-n))/(i/100)] |
C = Cash flow per period |
i = interest rate |
n = number of payments |
PV= 60*((1-(1+ 5/1200)^(-2.25*12))/(5/1200)) |
PV = 1529.19 |
What is the discounted value of payments of $60.00 made at the end of each month...
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