What is the present value today of an ordinary annuity cash flow of $3,000 per year for forty years at an interest rate of 6.0% per year?
A) $120,000.00
B) $1,327,777.67
C) $45,139.89
D) $32,270.87
Answer: C
Explanation: C)
PV = PMT × = $3,000 × = $45,138.89
MODE = END
INPUT 40 6 ? -3,000 0
KEY N I/Y PV PMT FV
CPT 45,138.89
Business
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