An investor will receive an annuity of $4,000 per year for ten years. The first payment will be received five years from today. At a discount rate of 9%, find the present value of this annuity closest to (Hint: the answer is $18,185.72)

If $1,000 is invested today and $1,000 is invested at the beginning of each of the next three years at 12% interest (compounded annually), calculate the amount an investor will have at the end of the fourth year (Hint: the answer is $5352.85 )

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Present Value of Annuity To find the present value of an annuity we can use the formula PV A 1 1 rn ... View the full answer