Find the Present Value of the Decreasing Annuity Necessary to Fund

question 129

Short Answer

Find the present value of the decreasing annuity necessary to fund a withdrawal of $200 per month for 20 years, if the annuity earns 5% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent.
​ $P V =$ $ __________.

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