16 | Find present value in annuity due N = 15 years, monthly payments Interest rate = 9%, compounded monthly PMT = -1000(0.09/12) FV = -1000 Compute PV Round to 2 decimal places 17 Find present value in ordinary annuity N = 30 years, monthly payments Interest rate = 9%, compounded monthly PMT = 1500 FV = 0 Compute PV Round to 2 decimal places Questions 18-27 use the same data Mortgage: find payment N = 15 years, monthly payments, starts at end of January Interest rate = 5%, compounded monthly PV = 500,000 FV = 0 Compute PMT Round to 2 decimal places 19 20 21 P1 = 1 P2 = 12 Balance at end of December in first year Total principal repayment at end of first year Total interest payments at end of first year