Recent content by micaehl1985

I am not sure how to do this question. I tried to solve it.

I am not sure how to do this question. I tried to solve it.

[b]1. 5. A twenty year annuity has end of month payments. The first year the payments are each $100. In subsequent years each payment increases by $10 over what it was the previous year. Find the present value of the annuity if i = 4% is the effective annual interest rate. Thank you