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16 January, 11:11

What is the pv of an ordinary annuity with 5 payments of $4,700 if the appropriate interest rate is 4.5%?

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  1. 16 January, 14:22
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    The formula is

    pv=pmt [ (1 - (1+r) ^ (-n)) : r]

    PV present value?

    PMT payments 4700

    R interest rate 0.045

    N number of payments 5

    PV=4,700 * ((1 - (1+0.045) ^ (-5)) : (0.045))

    pv=20,632.89
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