Answer to Question #99082 in Finance for murad

Answer to Question #99082 in Finance for murad

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Question #99082

Payments of $ 670 are being made at the end of each month for 5 years at an interest of 8% compounded monthly. Calculate the Present Value.

Expert’s answer

Where,r=8%/12= 0.006667n=5×12=60 monthsA=$670ThusPresent value, on solvingV= $33043.35

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