anonymous
  • anonymous
What is the C in this formula? PVOA = C(1/i - 1/i(1+i)^nt) How do you find C though?
Mathematics
jamiebookeater
  • jamiebookeater
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anonymous
  • anonymous
jim_thompson5910
  • jim_thompson5910
C is the cashflow I think?
jim_thompson5910
  • jim_thompson5910
basically how much is paying in or out per period

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anonymous
  • anonymous
Yeah. Ok so this is the question. Madison has an annuity that pays $9,003 at the beginning of each year. If the economy grows at a rate of 3.4% each year, what is the value of the annuity if she received it in a lump sum now rather than over a period of 9 years? So C would be $9,003?
jim_thompson5910
  • jim_thompson5910
Sounds like an annuity due instead of an ordinary annuity. The difference between the two is that the annuity due is paid at the beginning of the period
jim_thompson5910
  • jim_thompson5910
and yeah C = 9003 is the amount of money she gets per year it is the cash flowing to her
anonymous
  • anonymous
Oh ok. Cool! Thanks!! :)
jim_thompson5910
  • jim_thompson5910
you're welcome

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