find the present value of an ordinary annuity which has paym

find the present value of an ordinary annuity which has payments of $1100 per year for 18yrs at 6% compunded annually

Given p=1100 dollars

interest rate r=6% = 0.06

n=18

we know that FV= p[((1+r)ⁿ-1)/r]

by plugging all the values we get

FV= 110[((1+0.06)¹⁸-1)/0.06]

FV=33996.2178 dollars