SOLUTION: What is the present value of an ordinary annuity of $3,400 at 5% annual interest for seven years?

SOLUTION: What is the present value of an ordinary annuity of $3,400 at 5% annual interest for seven years?

Algebra.Com

Question 1138917: What is the present value of an ordinary annuity of $3,400 at 5% annual interest for seven years?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
PV=A(1-(1+r)^-n)/r
=3400(1-(1.05^-7))/0.05
=$19673.67
Round at end
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