SOLUTION: Find the present value of a $2,500 annual annunity at 7% for 10 years.

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Question 150879: Find the present value of a $2,500 annual annunity at 7% for 10 years.
Answer by vleith(2983) About Me  (Show Source):
You can put this solution on YOUR website!
PVoa = PMT [(1 - (1 / (1 + i)n)) / i]
P+=+2500%28%281+-+%281+%2F+%281.07%29%5E10%29%29+%2F+0.07%29+
P+=+2500%28%281+-+%281+%2F+1.967%29%29+%2F+0.07%29+
P+=+2500%28%281+-+%280.5083%29%29+%2F+0.07%29
P+=+2500%28%280.4916%29+%2F+0.07%29
P+=+17557.14