Answer
$\$ 8132.65$
Work Step by Step
We are given:
$R=300, i= \frac{0.08}{12}, n=30$
The present value of an annuity is given by:
$A_{p}=R \frac{1-(1+i)^{-n}}{i}$
$A_{p}=300\frac{1-(1+\frac{0.08}{12})^{-30}}{\frac{0.08}{12}}=\$ 8132.65$
You can help us out by revising, improving and updating this answer.
Update this answerAfter you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.