Business, 07.04.2020 19:05 floresvanexel4pejp1p
A 16-year annuity pays $1,800 per month at the end of each month. If the discount rate is 8 percent compounded monthly for the first seven years and 10 percent compounded monthly thereafter, what is the present value of the annuity?
Answers: 2
![[\frac{1 - (1 + r)^{-n} }{r}]](/tpl/images/0586/8283/7aaa2.png)
= 21600![[\frac{1 - (1 + 0.08)^{-7} }{0.08}]](/tpl/images/0586/8283/883ba.png)
![[\frac{0.42}{0.08}]](/tpl/images/0586/8283/9d5bc.png)
![[\frac{1 - (1 + 0.1)^{-9} }{0.1}]](/tpl/images/0586/8283/bdaed.png)
![[\frac{0.58}{0.1}]](/tpl/images/0586/8283/7628b.png)
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A 16-year annuity pays $1,800 per month at the end of each month. If the discount rate is 8 percent...
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