Estimate the Present Value of an Annuity If Payments Are

question 63

Short Answer

Estimate the present value of an annuity if payments are $800 monthly for 19 years and the account earns interest at the rate of 8% /year compounded continuously. Round your answer to the nearest dollar.
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$__________

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Definitions:

Joint Tenancy

A form of property co-ownership that provides equal shares and rights to the property, with the right of survivorship upon a tenant's death.

Ownership

The legal right to possess, use, control, and dispose of an asset or property.

General Warranty Deed

A legal document that guarantees a property's title is free from defects, and the seller has the right to sell it.

Easement

A legal right to use another's land for a specific limited purpose, like right of way or utility installation, without owning it.