*Advance Algebra With Financial Applications*

Garrett has an annuity that pays $2,460 at the beginning of each year. If the economy grows at a rate of 2.35% semiannually, what is the value of the annuity if he received it in a lump sum now rather than over a period of nine years?

$40,168.22

$39,701.72

$20,084.11

$19,850.86

Don't know what formula to use :c

Question

*Advance Algebra With Financial Applications*

Garrett has an annuity that pays $2,460 at the beginning of each year. If the economy grows at a rate of 2.35% semiannually, what is the value of the annuity if he received it in a lump sum now rather than over a period of nine years?

 $40,168.22

 $39,701.72

 $20,084.11

 $19,850.86

Don't know what formula to use :c

anonymous · Answer

hold on i did it wrong let me check

anonymous · Answer

hold onto the question i will message you the answer some time i am just really busy

anonymous · Answer

PV=2460(1+(0.0235)/(2))^(18) <- I try this

anonymous · Answer

FV = 2460((1+0.0235/2)^(2*9) - 1 )/( 0.0235/2 ) & try this too no luck ..

anonymous · Answer

if can show me how you got the answer show it to me on this http://www.twiddla.com/1248793

anonymous · Answer

You got it thats the formula !!!!!!

anonymous · Answer

which one ?

anonymous · Answer

h http://www.wolframalpha.com/input/?i=FV%20%3D%202460((1%2B0.0235%2F2)%5E(2*9)%20-%201%20)%2F(%200.0235%2F2%20)&t=crmtb01&f=rc

anonymous · Answer

http://www.wolframalpha.com/input/?i=PV%3D2460(1%2B(0.0235)%2F(2))%5E(18)&t=crmtb01&f=rc