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April 20, 2014

April 20, 2014

Posted by **Anonymous** on Thursday, September 17, 2009 at 8:16pm.

- finance -
**Reiny**, Thursday, September 17, 2009 at 8:34pmThis is a very typical "present value of an annuity" type of question

PV = Payment[1 - (1+i)-n]/i

= 8500([1 - 1.07^-15)/.07

my calculator gave me $77417.27

(are you still using tables for these kind of questions ?)

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