You will receive 28 annual payments of $42,500. The first payment will be received 7 years...

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You will receive 28 annual payments of $42,500. The first payment will be received 7 years...

You will receive 28 annual payments of $42,500. The first payment will be received 7 years from today and the interest rate is 7.1 percent. What is the value of the payments today?

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Answer 1

Answer #1

Present value -AX1 (1+ Of Amuityw hyran. ___ 7 . - As_Annual Payment na 10. Of payments. - interest aete 42,5001 - (1+0.071)

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You will receive 28 annual payments of $42,500. The first payment will be received 7 years...

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You will receive 28 annual payments of $42,500. The first payment will be received 7 years...