document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1071060>Question 1071060</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Please someone help!!! <BR>\n" );
document.write( "Find the present value PV of the annuity necessary to fund the withdrawal given.<BR>\n" );
document.write( "Round your answer to the nearest cent.<BR>\n" );
document.write( "$1,000 per quarter for 10 years, if the annuity earns 6% per year<BR>\n" );
document.write( "PV = $ ? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #686019 by </B><A HREF=/tutors/aboutme.mpl?userid=rothauserc><B>rothauserc(4718)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=rothauserc><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=rothauserc><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=686019\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> We want to get $4000 each year for 10 years<BR>\n" );
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document.write( "PV = 4000 * [ (1 - (1 + i)^-n) / i ], where i is interest and n is number of payments<BR>\n" );
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document.write( "PV = 4000 * [ (1 - (1 + 0.06)^-10) / 0.06 ] = $29440.35<BR>\n" );
document.write( ":\r<BR>\n" );
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