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LuAnn Bean will receive $7,000 in 7 years. What is the present value at 7% compounded annually? 8. Michelle McFeaters can earn 6%. How much

LuAnn Bean will receive $7,000 in 7 years. What is the present value at 7% compounded

annually?

8. Michelle McFeaters can earn 6%. How much would have to be deposited in a savings account in order for Michelle to be able to make equal annual withdrawals of $200 at the end of each of 10 years? The balance at the end of the last year would be zero.

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