SOLUTION: Find the present value of an annuity that pays R2 000 at the end of each 3-months period for 3.5 years if money is worth 4% p.a., compounded quarterly.

SOLUTION: Find the present value of an annuity that pays R2 000 at the end of each 3-months period for 3.5 years if money is worth 4% p.a., compounded quarterly.

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Question 1139159: Find the present value of an annuity that pays R2 000 at the end of each 3-months period for 3.5 years if money is worth 4% p.a., compounded quarterly.
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!

This is 2000(1-(1.01^-14)/0.01, the i being per cent divided by times per year
This is R26007.41
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