Question: Computing Present Value of a Deferred Annuity J . Johnson receives a defined retirement benefit, which commences in 1 5 years. At that time, Johnson

Computing Present Value of a Deferred Annuity
J. Johnson receives a defined retirement benefit, which commences in 15 years. At that time, Johnson is to receive monthly cash payments of $1,500 for 10 years with the first payment scheduled for the end of
the initial month of benefit. Assume an interest rate of 6%.
Required
What is the value of the deferred annuity as of today? Assume annual compounding during the deferral period.
Round your answer to the nearest whole number.
Do not use a negative sign with your answer.
$
Computing Present Value of a Deferred Annuity J. Johnson receives a

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