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What is the value of the deferred annuity as of today

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Question - Computing Present Value of a Deferred AnnuityRequiredRound your answer to the nearest whole number.

J. Johnson receives a defined retirement benefit, which commences in 6 years. At that time, Johnson is to receive monthly cash payments of $3,600 for 10 years with the first payment scheduled for the end of the initial month of benefit. Assume an interest rate of 6%.

What is the value of the deferred annuity as of today? Assume annual compounding during the deferral period. Do not use a negative sign with your answer.

Reference no: EM132934791

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