Present Value problem
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Find the present value of the annuity necessary to fund the withdrawal of $900 per month for 15 years, if the annuity earns 4% per year. (assume end-of-period withdrawal and compounding at the same intervals as withdrawal.
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The expert examines the present value problem.
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Hi there,
The math formula is:
PVoa = PMT [(1 - (1 / (1 + i)^n)) / i]
where PMT is the payment, i is ...
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