You receive payments at the end of each Quarter starting at the end of Quarter 1 and lasting 6 years (so the last payment you receive is at the end of Quarter 24). These payments are an equal series of payments of $2,500 for all 24 payment periods. The interest rate is 7% APR compounded monthly. 

What is the present value of this series of 24 payments?

Answer rating: 100% (QA)

To calculate the present value of a series of future payments we need to discount each p... View the full answer