SOLUTION: Please help me solve this word problem about Simple Interest: The compounding periods and the payment periods are the same for an annuity and for an amortization. Determine the

Question 1194948: Please help me solve this word problem about Simple Interest:
The compounding periods and the payment periods are the same for an annuity and for an amortization. Determine the present value of the annuity that will pay the given periodic payments. (Round your final answer to two decimal places.)
Periodic payments of $2700 annually for 14 years. The interest is 6% compounded annually.
$

Answer by ikleyn(52790) (Show Source): You can put this solution on YOUR website!
.
Please help me solve this word problem about Simple Interest:
The compounding periods and the payment periods are the same for an annuity and for an amortization.
Determine the present value of the annuity that will pay the given periodic payments.
(Round your final answer to two decimal places.)
Periodic payments of $2700 annually for 14 years. The interest is 6% compounded annually.
$
~~~~~~~~~~~~

This problem is not on simple interest.

It is a rude mistake and deep delusion to think so.

Hello, you should learn basic terminology before posting your problems -

otherwise, any teaching is counter-productive.

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