bethanybowers4156 bethanybowers4156

28-01-2020
Business

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An annuity pays $10 per year for 98 years. What is the present value (PV) of this annuity given that the discount rate is 7%?

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olukoredeabiodun3 olukoredeabiodun3

29-01-2020

Answer:

It is $142.7

Explanation:

Annuity df = ( 1-(1+r)^-n)/r

Annuity df @7% for 98 years =14.27

Pv of payment for 98 yrs =14.27 ×$10

=$142.7

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