I am having trouble computing the formula for this. I know that it's $4,122.51=1,200*PVFA(n=6,i=5%)*PVF(n=8,i+5%). However, I don't understand where the $4,122.51 came from, and I don't understand if you multiply, divide, or subtract the values in the parentheses, and I don't know what the PVFA or the PVF are and how to identify those values... PLEASE HELP.

Check my work 10 You have been offered a 6 year annuity of $1,200 beginning nine years from today. If the discount rate is 5%, what is the fair value of the annuity today? (Provide your answer without dollar sign or commas.) eBook Hint References Numeric Response