Receiving $100,000 per year for five years is equivalent to investing what amount today at 14 percent?

Question:

Receiving $100,000 per year for five years is equivalent to investing what amount today at 14 percent? Provide a mathematical formula to solve this problem, assuming use of a present value table to convert the future cash flows to their present value equivalents. Provide the expression for the Excel spreadsheet function that would perform the present value conversion.

Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...