Assume you want to invest a sum of money (hint: the present value) that you can use to withdraw $13 per year for the next 10 years (at the end of each year). Depending on the interest rates provided below, how much would you need to invest today? Round factors to four decimal places and present values to two decimal places. Use rounded PV values to calculate all totals

Using the Present Value of $1 Table for 5% Interest N Yr.1 Yr.2 Yr.3 Yr.4 Yr.5 Yr.6 Yr.7 Yr.8 Yr.9 Yr. 10 Total Interest 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% rate Factor 0.9524 0.907 0.8638 0.8227 0.7835 0.7462 0.7107 0.6768 0.6446 0.6139 Present Value Using the Present Value of $1 Table for 10% Interest N Yr.1 Yr.2 Yr.3 Yr.4 Yr.5 Yr.6 Yr.7 Yr.8 Yr.9 Yr.10 Total Interest 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% rate Factor 0.9091 0.8264 0.7513 0.683 0.6209 0.5645 0.5132 0.4665 0.4241 0.3855 Present Value Using the Present Value of $1 Table for 20% Interest N Yr.1 Yr.2 Yr.3 Yr.4 Yr.5 Yr.6 Yr.7 Yr.8 Yr.9 Yr. 10 Total Interest 20% 20% 20% 20% 20% 20% 20% 20% 20% 20% rate Factor 0.8333 0.6944 0.5787 0.4823 0.4019 0.3349 0.2791 0.2326 0.1938 0.1615 Present Value