SOLUTION: The present value of an annuity is given. Find the periodic payment. (Round your final answer to two decimal places.) Present value = $7000, and the interest rate is 7.1% compound

Algebra ->  Finite-and-infinite-sets -> SOLUTION: The present value of an annuity is given. Find the periodic payment. (Round your final answer to two decimal places.) Present value = $7000, and the interest rate is 7.1% compound      Log On


   

Question 1131817: The present value of an annuity is given. Find the periodic payment. (Round your final answer to two decimal places.)
Present value = $7000, and the interest rate is 7.1% compounded quarterly for 15 years.
Answer by addingup(3677) About Me  (Show Source):
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(0.01775*7000)/(1-(1+0.01775)^-60 = 190.56