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Find the present value of an ordinary annuity with deposits of $22,390 quarterly for 8 years...

Find the present value of an ordinary annuity with deposits of $22,390 quarterly for 8 years at 5.2% compounded quarterly.
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Answer #1

Presetn Value of Annuity =

Where r is ther rate of interest for a compounding period ie. 5.2%/4 = 1.3%

n is the no of compounding periods i.e. 8 years * 4 = 32 periods Or quarters

  

=

= $ 583,085.36  

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