An annuity is a specific dollar amount paid to an investor for a stated period of time. The interest payments on your bond are considered a type of annuity. To calculate the present value of your interest payments, you calculate the value of a series of equal payments each year over time. If your 10-year, $1,000 pays 10% interest each year, for example, you would earn a fixed amount of $100 per year for 10 years. The formula for present value requires you to separate your annual interest payments into the smaller amounts you receive during the year. If, for example, your $1,000 bond pays interest twice a year, you would use two payments of $50 each in your present value calculation. The sooner you are able to receive any payment, the more valuable it is to you. This concept is sometimes called the "time value of money", Receiving $1 today is inherently more valuable than receiving $1 tomorrow because over the time you hold the $1 you can invest it (or simply spend it) and to gain a return. Following that logic, if you receive $50 in June and $50 in December those payments are more valuable than receiving the entire $100 in December. This is because you have the opportunity to use the initial $50 without having to wait until the end of the year. The formula is PVA=I[1(1+k)n]/k{\displaystyle PVA=I[1-(1+k)^{-}n]/k}. The variables in the formula require you to use the interest payment amount, the discount rate (or required rate of return) and the number of years remaining until maturity. Assume that a bond has a face value of $1,000 and a coupon rate of 6%. The annual interest is $60. Divide the annual interest amount by the number of times interest is paid per year. This calculation is I, the periodic interest paid. For example, if the bond pays interest semiannually, I = $30 per period. Each period is 6 months. Determine discount rate. Divide the discount rate required by the number of periods per year to arrive at the required rate of return per period, k. For example, if you require a 5% annual rate of return for a bond paying interest semiannually, k = (5% / 2) = 2.5%. Calculate the number of periods interest is paid over the life of the bond, or variable n. Multiply the number of years until maturity by the number of times per year interest is paid. For example, assume that the bond matures in 10 years and pays interest semi-annually. In this case, n = (10 X 2) = 20 interest-paying periods. Plug in I, k and n into the present value annuity formula PVA=I[1(1+k)n]/k{\displaystyle PVA=I[1-(1+k)^{-}n]/k} to arrive at the present value of interest payments. In this example, the present value of interest payments is $30[1-(1+0.025)^-20]/0.025 = $467.67. The present value of the interest payments was an annuity, or a string of payments. The principal is a single repayment to the investor at maturity. If, for example, you own a $100,000 bond due in 10 years (the bond has a likely face value of $1,000, $100,000 represents the entire issue), you will receive a single payment of $100,000 10 years from now. You use a discount rate to discount (reduce) that single payment into a value today. The formula uses some of the same values you used in the annuity formula. Use the annuity formula first then apply those same variables to the principal payment formula. Plug in k and n into the present value (PV) formula. Use the formula PV=FV/(1+k)n{\displaystyle PV=FV/(1+k)^{n}} to arrive at the present value of the principal at maturity. For this example, PV = $1000/(1+0.025)^10 = $781.20. Add the present value of interest to the present value of principal to arrive at the present bond value. For our example, the bond value = ($467.67 + $781.20), or $1,248.87. Investors use the present value to decide whether or not they want to invest in a particular bond.

Summary: Use the concept of an annuity to calculate the value of your interest payments. Apply the present value of an annuity (PVA) formula to your interest payments. Input the variables and calculate the present value of the principal payments.

There are plenty of brands, so shop around and find a stick that feels comfortable in your hands. A good stick will come up about to your hip when you hold its blade flat against the ground. Play around with the stick, taking some time to push around the small, hard ball used in field hockey games. The average weight of a field hockey stick is about 21oz (600g). Many forwards choose lighter sticks that are easier to maneuver. Many players also carry at least 2 sticks in case they play different positions. Every stick has a flat side and a rounded side. The flat side is the part you use to strike the ball. The ball is plastic and about the size of a golf ball. These are the basic protective tools every field hockey player needs. The shin guards are similar to soccer shin guards but offer a little more ankle protection. You can wear socks underneath them to make them more comfortable. Mouth guards always tend to feel uncomfortable, but they are the most important protective gear available. Goggles help protect you from flying balls and high sticks. They protect the sides and front of your face. You can get gear online or at most sporting good stores. If you have soccer shin guards, they can be a good starting point as you learn the game. Goalies also need a lightweight arm and leg padding as well as a cage helmet. Most players don't start off in goal, so consider learning the game as an outfield player before you decide on becoming a goalie. Gloves are optional pieces of equipment. Many players like wearing them for additional protection. Field hockey matches are played on grass or turf like football, soccer, and other outdoor sports. Field hockey shoes have small, rubber cleats on the bottom that keep you from slipping while you run. Choose a pair of shoes that fit you but don't feel restrictive. If you have soccer cleats, start with those. The cleat studs are longer but still provide plenty of traction on the field. When you get more involved with field hockey, you can then choose specialty field hockey cleats.
Summary: Get a field hockey stick and ball. Purchase shin guards and a mouth guard, and goggles. Wear field hockey cleats while playing.