Find the Present Value of a Decreasing Annuity Necessary to Fund

question 1

Short Answer

Find the present value of a decreasing annuity necessary to fund withdrawals of $800 per month for 10 years, if the annuity earns 4% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent.
​
$__________

---

Definitions:

Black Women

Refers to women of Sub-Saharan African descent with varying cultural, social, and personal identities.

Highly Sexed

Describing an individual possessing a strong or above-average sexual desire or libido.

Athletes' Appearance

Refers to the physical presentation and grooming standards expected of athletes, often influenced by societal norms, sports regulations, and individual preferences.

Sex Appeal

The quality of being attractive in a sexual manner, often influencing personal, social, and media interactions.