what is the pv of an annuity that promises to pay you $500 per year for the nest 20 years if the interest rate is 7%?
PV= 500 (1-(1.07)^-20)/,07
paste that into the Google search window
I get 5297.01
\Google Calculator is nice.
paste that into the Google search window
I get 5297.01
\Google Calculator is nice.