Annuities and Present Worth
An annuity is a uniform series of equal payments made at equal time intervals.
$$P=A\left(\frac{1-(1+i)^{-n}}{i}\right)$$
An annuity is a uniform series of equal payments made at equal time intervals.
Find the present worth of Php 15,000 received every year for 5 years at 8% interest.
Final answer: Php 59,890.50.