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Homework answers / question archive / What is the present value of $1000 paid at the end of each of next 100 years if the interest rate is 7% per year?   

What is the present value of $1000 paid at the end of each of next 100 years if the interest rate is 7% per year?   

Finance

What is the present value of $1000 paid at the end of each of next 100 years if the interest rate is 7% per year? 
 

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Computation of the present value:-

Present value = Annual payment*((1-1/(1+rate)^n)/rate)

= $1,000*((1-1/(1+7%)^100)/7%)

= $1,000*14.26925

= $14,269.25

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