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Calculate the present worth of 16 uniform payments of $6,600 that begin 1 year from now...

Calculate the present worth of 16 uniform payments of $6,600 that begin 1 year from now at an interest rate of 8% per year. The present worth is $

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Answer #1

By tables:

PV=A*(P|A,i,n)

A=uniform payments

i=8%=interest rate

n=years=16

PV=6600*(P|A,8%,16)

PV=6600*8.851369155487385

PV=58419.0364

the PV is $58419

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by formula

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