SOLUTION: determine the present value of a series of 60 payments of $2000 each which begin 1 month from today.Assume interest of 12% per year compounded monthly

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Question 1173175: determine the present value of a series of 60 payments of $2000 each which begin 1 month from today.Assume interest of 12% per year compounded monthly
Answer by Theo(13342) About Me  (Show Source):
You can put this solution on YOUR website!
using the financial calculator at https://arachnoid.com/finance/index.html, i made the following inputs:

pv = 0
fv = 0
np = 60
pmt = -2000
ir = 12%/12 = 1
payments made at end of time period.

i clicked on pv to get:
pv = 89,910.08

12% per year / 12 = 1% per month
number of time periods was 60 months.

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