Find the equivalent present worth of the cash receipts where i=9 %. In other words, how much do you have to deposit now (with the second deposit in the amount of $210 at the end of the first year) so that you will be able to withdraw $210 at the end of the second year, $120 at the end of the third year, and so forth if the bank pays you a 9% annual interest on your balance?

$350 $210 $120 $120 4 Years 3 $210