10-year annuity pays $900 per year, with payments made

jagguarpaw January 16, 2017 0 Comments

Question: A 10-year annuity pays $900 per year, with payment…

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?