4. Find, ar 4.5% C.I the amount and the present value of an
annuity of 3000 in 15 years.
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Answer:
Payment P=3000
n=15 years
rate=4.5%
∴r=
100
4.5
=0.045
PV=P(
r
1−(1+r)
−n
)
=3000(
0.045
1−(1+(1+0.045)
−15
)
=3000(
0.045
1−(1.045)
−15
)
=32218.63
∴PV of the annuity is
32218.63.
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