Question: Using the proper formula , calculate the present value of the following. What is the present value of an annuity that pays $1,000 per year

Using the proper formula, calculate the present value of the following. What is the present value of an annuity that pays $1,000 per year for 4 years? Assume the first payment is made one year from today and that the discount rate of interest is 8%.

Present value of an ordinary annuity PV PMT * 1-1

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