Find the present value of an annuity of $2,000 payable at the end of each year for 10 years, if the money is worth 4% rate of interest per year.

Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter9: The Basic Tools Of Finance
Section9.1: Present Value: Measuring The Time Value Of Money
Problem 1QQ
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Mathematical economics:
Find the present value of an annuity of $2,000
payable at the end of each year for 10 years, if
the money is worth 4% rate of interest per year.
Transcribed Image Text:Mathematical economics: Find the present value of an annuity of $2,000 payable at the end of each year for 10 years, if the money is worth 4% rate of interest per year.
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