Joe Biden is planning to live in a university residence for $6$ years after leaving the white house. The annual cost for food and lodging is $$14702$ and must be paid at the start of each year. What is the total present value of Joe$$s residence fees if the discount rate $($interest rate$)$ is $4$ percent per year?

Question $7$Answer

a$.$

$143498\mathrm{.}53$

b$.$

$18602\mathrm{.}72$

c$.$

$80152\mathrm{.}69$

d$.$

$684351\mathrm{.}31$