The formula to calculate a present value of a deferred annuity is:
PVdeferred = C × Converted Factor for Present Value of Deferred Annuity of 1)

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The formula PVdeferred = C × (Converted Factor for Present Value of Deferred Annuity of 1) is a correct representation for calculating the present value of a deferred annuity, where C represents the annuity payment and the converted factor is derived based on the interest rate and the period of deferral.

The Formula to Calculate a Present Value of a Deferred