Consider a $29,070 CF at the end of 2039. The interest rate is 6.8%. What is...
Consider a $29,070 CF at the end of 2039. The interest rate is 6.8%. What is the equivalent uniform amount for a series of end-of-year CFs spanning 2012-2039? (answer: $372.31)
What formula do they use to get this value?
Homework Answers
Future value of annuity=Annuity[(1+rate)^time period-1]/rate
29070=Annuity[(1.068)^28-1]/0.068
29070=Annuity*78.08091028
Annuity=29070/78.08091028
which is equal to
=$372.31(Approx).
Add Answer to:
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