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Find the present value of an annuity with annual payments of Php 1,400 for 7 years. The interest is 9%
compounded annually.

Sagot :

Gonzalesjowel979go

Answer:

882 PESOS

Step-by-step explanation:

PRINCIPAL = 1,400 PESOS

RATE = 9% OR 0.09%

TIME = 7 YEARS

1,400 PESOS × 0.09% = 126 PESOS

126 PESOS × 7 YEARS = 882 PESOS

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