Question 1071060
We want to get $4000 each year for 10 years
:
PV = 4000 * [ (1 - (1 + i)^-n) / i ], where i is interest and n is number of payments
:
PV = 4000 * [ (1 - (1 + 0.06)^-10) / 0.06 ] = $29440.35
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