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The classical formula for the present value of a series of n fixed monthly payments amount x invested at a monthly interest rate i% is: = ((+))The formula may be re-arranged to determine the monthly payment x on a loan of amount P 0 taken out for a period of n months at a monthly interest rate of i%:
Therefore, the future value of your annuity due with $1,000 annual payments at a 5 percent interest rate for five years would be about $5,801.91.
With a fixed annuity, the insurer agrees to pay you a set interest rate during the period when your investment is still growing. The insurer will also make periodic payments of a specific dollar ...
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Converting an annual interest rate (that is to say, annual percentage yield or APY) to the monthly rate is not as simple as dividing by 12; see the formula and discussion in APR. However, if the rate is stated in terms of "APR" and not "annual interest rate", then dividing by 12 is an appropriate means of determining the monthly interest rate.
In economics, Present value interest factor, also known by the acronym PVIF, is used in finance theory to refer to the output of a calculation, used to determine the monthly payment needed to repay a loan. The calculation involves a number of variables, which are set out in the following description of the calculation:
With an income annuity, accessing the principal amount typically comes with surrender charges, which can be significant. Deferred income annuities may offer more flexibility for withdrawals before ...
With a once-per-year payment, the beneficiary can deposit the money in an interest-bearing account and take smaller quarterly or monthly withdrawals as they need cash, leaving the rest of the ...
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