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you took our a student loan in college and now have to pay $1,600 every year...

you took our a student loan in college and now have to pay $1,600 every year for 15 years starting one year from now. the annual interest rate on the loan is 4%. what is the present value of the 15 yearly payments?
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Answer #1

Solution:-

To Calculate Present Value-

Present Value =

Present Value =

Present Value =

Present Value =

Present Value = $17,789.42

Present Value of 15 years Payments is $17,789.42

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