You have an annuity  that pays $15 per year for 61 years. What is the future value (FV) of this annuity at the end of that 61 years given that the discount rate is 10%? Must use excel or finance calculator

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Present Value

Present value (PV) is defined as the current or present value of all future sums of cash flow or money at a specified rate of return. This rate of return is known as the discounted rate, which is essentially the interest rate, discounted over some time. The expected cash flows are discounted at a discount rate to compute the present value. The higher the discount rate, the higher the future value (FV), but the lower the present value.