Nancy just bought an annuity that will provide her with 20 annual payments over the next 20 years. The payments are made at the beginning of the year. The first payment is made today, and the second payment will be made a year from now. The first 10 payments are for $10,000 each, and the remaining 10 payments are for $20,000 each. If the discount rate is 5%, 

what is the present value of this annuity?

Answer rating: 100% (QA)

To find the present value of the annuity we need to calculate the present value of each individua... View the full answer