need help with word problem (2) - Annuity

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neshamorris29

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A professional soccer player has a deferred compensation annuity that pays her $2,700 at the end of each month for 8 years. If the annual interest rate is 5% compounded monthly, find the present value of the annuity. (Round your answer to the nearest cent.)

can someone help break this down and show me how to do it?
 
neshamorris29 said:
A professional soccer player has a deferred compensation annuity that pays her $2,700 at the end of each month for 8 years. If the annual interest rate is 5% compounded monthly, find the present value of the annuity. (Round your answer to the nearest cent.)

can someone help break this down and show me how to do it?
Click to expand...
Are you allowed to use software like MS-Excel?

Please show us what you have tried and exactly where you are stuck.

Please follow the rules of posting in this forum, as enunciated at:


Please share your work/thoughts about this problem.
 
neshamorris29 said:
A professional soccer player has a deferred compensation annuity that pays her $2,700 at the end of each month for 8 years. If the annual interest rate is 5% compounded monthly, find the present value of the annuity. (Round your answer to the nearest cent.)

can someone help break this down and show me how to do it?
Click to expand...
Deferred for how long?
 
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