Find the present value PV of the annuity necessary to fund the withdrawal given.

Question

Find the present value PV of the annuity necessary to fund the withdrawal given. HINT [See Example 3.] (Assume end-of-period withdrawals and compounding at the same intervals as withdrawals. Round your answer to the nearest cent.) $200 per month for 15 years, if the annuity earns 5% per year PV =
Find the present value PV of the annuity necessary to fund the withdrawal given. HINT [See Example 3.] (Assume end-of-period withdrawals and compounding at the same intervals as withdrawals. Round your answer to the nearest cent.) $200 per month for 15 years, if the annuity earns 5% per year PV =
Find the present value PV of the annuity necessary to fund the withdrawal given. HINT [See Example 3.] (Assume end-of-period withdrawals and compounding at the same intervals as withdrawals. Round your answer to the nearest cent.) $200 per month for 15 years, if the annuity earns 5% per year PV =

Explanation / Answer

Annual cash flows 2400 (200*12) Pv value annuity factory n=15 i = 5% 10.37966 Present value of cashflows 24911

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