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How do calculate the present value today of the annuity

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Reference no: EM133000917

Problem 1: April Stigum will receive a 5-year annuity of $2,000 per year (5 payments), beginning 3 years from today. In other words, the first payment will be made at the end of year 3 and the last payment will be made at the end of year 7. Assuming a required rate of return of 9%, calculate the present value today of her annuity. (Enter a positive value and round to 2 decimals)

Reference no: EM133000917

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