Brief Exercise 6-14

Carla Monroe wants to create fund today that will enable her to withdraw $32,200per year for6years, with the first withdrawal to take place4years from today.

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If the fund earns12% interest, how much must Carla invest today?

Investment amount:

R= 32,200

N = ?

I = 12%

Exercise 6-5 (Part Level Submission)

Using the appropriate interest table, compute the present values of the following periodic amounts due at the end of the designated periods.

(a)

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$50,930receivable at the end of each period for9periods compounded at12%.(Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Present value