# Algebra

Calculate the present value of the annuity. (Round your answer to the nearest cent.)
\$1600 monthly at 6.6% for 30 years.

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1. Using the formula that you must know:

PV = payment( 1 - (1+i)^-n )/i
i = .066, n = 30

plug in those values in your calculator and calculate.
Let me know what you got.

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posted by Reiny

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