If money can earn 5 25 compounded monthly, what is the value of an annuity consisting of annual payments of $2500 continuing for 16 years The first payment will be received today ...

Given PMT 2500 n 16 i 52512 04375 c 122 12 i 2 1i c 1 10 ...

If money can earn 5.25% compounded monthly, what is the value of an annuity consisting of annual

Question:

If money can earn 5.25% compounded monthly, what is the value of an consisting of annual payments of $2500 continuing for 16 years? The first payment will be received today.
Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...