SOLUTION: Find the present value of an ordinary annuity of $4,000 payments each made annually over 9 years and earning interest at 6% per year compounded annually.

SOLUTION: Find the present value of an ordinary annuity of $4,000 payments each made annually over 9 years and earning interest at 6% per year compounded annually.

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Question 697217:
Find the present value of an ordinary annuity of $4,000 payments each made annually over 9 years and earning interest at 6% per year compounded annually.
Answer by lynnlo(4176) (Show Source): You can put this solution on YOUR website!
total amount=============$6757.92
compound interest annually=========$2757.92
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