What is the present value of an annuity with payments of $ 80, 000.00 $80,000.00 paid annually for 25 25 years at 6 % 6% compounded annually? Assume the interest rate does not change while the account is open. Round your answer to the nearest cent.

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 20E
Question
What is the present value of an annuity with payments of $ 80, 000.00 $80,000.00 paid annually for 25 25 years at
6 % 6% compounded annually? Assume the interest rate does not change while the account is open. Round your
answer to the nearest cent.
Transcribed Image Text:What is the present value of an annuity with payments of $ 80, 000.00 $80,000.00 paid annually for 25 25 years at 6 % 6% compounded annually? Assume the interest rate does not change while the account is open. Round your answer to the nearest cent.
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