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What is the present value of ​$3,500 per year for 8 years discounted back to the...

What is the present value of ​$3,500 per year for 8 years discounted back to the present at 9 ​percent?
The present value of ​$3,500 per year for 8 years discounted back to the present at 9 percent is ​$ ​(Round to the nearest​ cent.)

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Answer #1

Annuity = $ 3500, Tenure = 8 years and Interest Rate = 9 %

Therefore, Present Value of Annuity = 3500 x (1/0.09) x [1-{1/(1.09)^(8)}] = $ 19371.87

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