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Populaire Word Problems >

Find the present value of an ordinary annuity with payments of 40,000.00 paid annually for 25 years at 4% compounded annually.

Solution

F in d t h e p rese n t v a l u e o f an or d ina ry ann u i t y w i t h p a y m e n t s o f ​​40, 000.00​ p ai d ann u a ll y f or 25​ ye a rs a t 4%​ co m p o u n d e d ann u a ll y .

Solution

Amount : 106633.45

étapes des solutions

Translate the problem into an equation:

A = 40000 (1 + \frac{0.04}{1})^{1 \cdot 25}

40000 (1 + \frac{0.04}{1})^{1 \cdot 25} = 106633.45325 \dots

Arrondir à hundredth la plus proche:

106633.45

Amount : 106633.45

Exemples populaires

The sum of nine and a number, x, is five Eight more than the quotient of a number and 4 is equal to 3 What is the future value after 12 years if you deposit 1, 000 for your child's education and the interest is guaranteed at 1.6% compounded continuously?Gabrielle puts 8,000.00 into an account to use for school expenses. The account earns 2% interest, compounded quarterly. How much will be in the account after 5 years?2 increased by 5 times a number