College Algebra 7th Edition

Published by Brooks Cole
ISBN 10: 1305115546
ISBN 13: 978-1-30511-554-5

Chapter 8, Sequences and Series - Section 8.4 - Mathematics of Finance - 8.4 Exercises - Page 621: 2

Answer

present value

Work Step by Step

The ___ present value ___ of an annuity is the amount that must be invested now at interest rate $i$ per time period in order to provide $n$ payments each of amount $R$.
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