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:

Biconditional

A logical statement in which both parts imply each other; true only when both parts are simultaneously true or false.

Component

A component or segment of a more extensive whole, particularly a section of machinery or a system.

Consequent

In a conditional statement, it refers to the outcome or result that follows from the fulfillment of a precedent condition.

Conditional

A type of logical statement that connects two statements in a cause-and-effect relationship, usually formulated as "if-then."