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SOLVED: The Betzes have leased an auto for 3 years at 420/month. If money is worth 8% per year compounded monthly, what is the equivalent cash payment (present value) of this annuity?86,701.48813,402.96826,805.92813,302.38813,503.54

SOLVED: The Betzes have leased an auto for 3 years at 420/month. If money is worth 8% per year compounded monthly, what is the equivalent cash payment (present value)

VIDEO ANSWER: I'm going to use my ordinary annuity calculator or formula to figure out what the present value is. I need to know the principal amount to do tha…

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