Thread: This annuity payment is killing me. repost sorry

Find the present value of an annuity with annual payments of $1400 per year for seven years. The interest is 9% compounded annually. My guess is $7046.13 but I'm not sure. Thanks for looking at this problem.

Originally Posted by kwtolley

Find the present value of an annuity with annual payments of $1400 per year for seven years. The interest is 9% compounded annually. My guess is $7046.13 but I'm not sure. Thanks for looking at this problem.

You're right! Using this PVIFA table for 9% interest for 7 years, the PVIFA = 5.0329 times $1400 gives your answer.

PS: you can delete your other post. Click on the edit link for that post. There's a delete option.

thanks for the help, I will use the chart in the future.