Question 1071060
Please someone help!!! 
Find the present value PV of the annuity necessary to fund the withdrawal given.
Round your answer to the nearest cent.
$1,000 per quarter for 10 years, if the annuity earns 6% per year
PV = $ ?
<pre>You need to use the following formula for the present value of an ORDINARY ANNUITY, or: {{{PV[oa] = PMT * ((1 - 1/(1 + i/m)^(mt))/(i/m))}}}, where:
{{{PV[oa]}}} = Present Value of the ORDINARY ANNUITY (Unknown, in this case)
 {{{PMT}}} = Payment, per period ($1,000, in this case)
   {{{i}}} = Annual Interest rate (6%, or .06, in this case)
   {{{m}}} = Number of ANNUAL compounding periods (quarterly, or 4, in this case)		
   {{{t}}} = Time, in years (10, in this case)
When calculated, {{{highlight_green(matrix(1,4, PV[oa], should, "=", "$29,915.85"))}}}