Pete Morton is planning to go to graduate school in a program of study that will take three years. Pete wants to have $10,000 available each year for various school and living expenses. If he earns 4 percent on his money, how much must he deposit at the start of his studies to be able to withdraw $10,000 a year for three years?

1. Interest =

Future Value =

3. Present Value =

4. Payment =

Time (Period) =

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