Present Value and Future Value

Brian Inc. estimates that it will need $150,000 in 6 years to expand its manufacturing facilities. A bank has agreed to pay Brian 5% interest compounded annually if the company deposits the entire amount now needed to accumulate $150,000 in 6 years.

Use the appropriate present or future value table:

FV of $1,

PV of $1,

FV of Annuity of $1 and PV of Annuity of $1

How much money does Brian need to deposit now? Be sure to use all digits shown on the table and round your answer to a whole dollar. $fill in the blank 1