Amount of Each Annuity Payment
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Say I have a 5-year ordinary annuity with present value of $1,000, and the interest rate is 10%, what is the amount of each annuity payment?
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Solution Summary
Brief calculations show how to find the annuity payments when given present value and interest rate.
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Annuity payment
A=P*((i*(1+i)^n)/(1+i)^n-1)
P=present value, A= Annuity i= interest n=duration
P=1000, r=10%, n=5 ...
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