The present value of annuity due is $1030.
A series of payments made at regular intervals constitute an annuity in the world of investments. Annuities include regular contributions to a savings account, recurring payments for a mortgage or rent, insurance premiums, and pensions. By how frequently payment dates occur, annuities can be categorized. Payments (deposits) may be made on a weekly, monthly, quarterly, annual, or other regular basis. By using mathematical operations referred to as "annuity functions," annuities can be estimated.
A life annuity is a type of annuity that guarantees payments for the rest of the owner's lifetime. An immediate annuity pays out at the end of each payment period, allowing interest to accumulate between the time of the annuity's issuance and the first payment.
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