SOLUTION: Find the lump sum deposited today that will yield the same total amount as payments of $10,000 at the end of each year for 15 years at 4% compounded annually.
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Question 316679: Find the lump sum deposited today that will yield the same total amount as payments of $10,000 at the end of each year for 15 years at 4% compounded annually.
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
P=(1+.04)^15/10000
P= 10000/(1.04)^15
P=10000/1.8
P=5555.56
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