Farah will receive $1550 each year for 15 years from an ordinary annuity that she has recently

Question:

Farah will receive $1550 each year for 15 years from an ordinary annuity that she has recently purchased. If she earns interest at a rate of 6.6 percent compounded annually, what is the present value of the amount that she will receive? (PV)

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,...

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