Question

# Consider the following annuity: $1,000 due at the end of each year for three years, and$2,000 due thereafer at the end of each year for three years. Assume an interest rate of 2% compounded annually to find the present value of the annuity.

Ratios, rates, proportions
Consider the following annuity: $1,000 due at the end of each year for three years, and$2,000 due thereafer at the end of each year for three years. Assume an interest rate of 2% compounded annually to find the present value of the annuity.

## Expert Answers (1)

2020-12-25
PMT: 3000
I/Y: 2
N: 3
FV: 0
PV: ????
I'm probably wrong... I got \$8,651.65