Posted by Dania on Sunday, October 31, 2010 at 11:12pm.
please  How do we manually calculate the Present Value of annuity step by step using this formula:
PV=R[1(1+i)n / i
for example:
PV = 2700[1(1+.065)4
___________________ = 9249.66
0.065
How did they get this answer (9249.66)?
I'm so lost. just to clarify too, 4 is an exponent. I couldn't change font for this to be apparent. Please a step by step answer would really help. Thank you in advance for your help, this site is such a wonderful service.
 math  Reiny, Sunday, October 31, 2010 at 11:28pm
hoping you have a decent calculator with brackets, here are the keystrokes I did on my "Sharp"
1

(
1.065
y^{x} , (you should have such a key)
4 ±
)
=
÷
.065
=
x
2700
=
I get 9249.66
 math  Dania, Monday, November 1, 2010 at 8:44am
If I could hug you I would. You have no idea how helpful this was, I can now proceed with the rest of the equations. Thank you kindly :)
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