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Present value of an annuity whats the present value of a $900 annuity payment over five years if interest rates are 8 percent?

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Aliwohaish12
Hi there
The formula of the present value of annuity ordinary is
Pv=pmt [(1-(1+r)^(-n))÷r]
Pv present value?
PMT 900 payment per year
R interest rate 0.08
N time 5 years
So
Pv=900×((1−(1+0.08)^(−5))÷(0.08))
pv=3,593.44

Hope it helps

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