Question

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?

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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