What is the value today?

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A 15-year annuity of $300 monthly payments begins in 4 years (the first payment is at the end of the first month of year 4, so it’s an ordinary annuity). The appropriate discount rate is 5%, compounded monthly.

Explain how you would find the value of this annuity at different points in time between today and 19 years from now.

What is the value today?

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What is the value in two years?

What is the value in 6 years?

 

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