a 10 year annuity pays 900 per year with payments made at the end of each year the first 900 wil

Name: a 10 year annuity pays 900 per year with payments made at the end of each year the first 900 will be paid 5 years from now if the apr is 8 and interest is compounded quarterly what is the present valu
Uploaded: 2023-06-05T18:21:06-08:00
Duration: 4 min 58 s
Channel: Danielle Fairburn
Description: a 10 year annuity pays 900 per year with payments made at the end of each year the first 900 will be paid 5 years from now if the apr is 8 and interest is compounded quarterly what is the present valu

Question

Jessica Horn · Accepted Answer

1. First, we need to find the quarterly interest rate since the interest is compounded quarterly

Question

A 10-year annuity pays $900 per year, with payments made at the end of each year. The first $900 will be paid 5 years from now. If the APR is 8% and interest is compounded quarterly, what is the present value of this annuity?

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