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22-10-2020
Business

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What is the PV of an ordinary annuity with 10 payments of $2,700 if the appropriate interest rate is 5.5%?

Respuesta :

22-10-2020

Answer:

$20,352

Explanation:

Use the time value of money techniques to find the PV as follows :

n = 10

p/yr = 1

i = 5.5%

Fv = $0

Pmt = $2,700

PV = ?

Using a financial calculator to enter the values as above the PV is $20,352

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