Calculate the present value of annuity

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Reference no: EM132071558

Calculate the present value of an annuity of $5,000 received annually that begins today and continues for 10 years, assuming a discount rate of 9%.

For example:

What is the monthly payment for a 30 year mortgage of $100,000 at 6% annual rate?

Recommended answer should be like this:

n = 360, i = 0.5, PV = 100,000, FV = 0

therefore PMT = 599.55

Offering $599.55 as your final answer is NOT enough; please show the input for your answers.

Reference no: EM132071558

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