Present Value of an Annuity

Determine the present value of $320,000 to be received at the end of each of four years, using an interest rate of 10%, compounded annually, as follows:

a. By successive computations, using the present value table inExhibit 4. Round to the nearest whole dollar.

First year	$
Second Year	$
Third Year	$
Fourth Year	$
Total present value	$

b. By using the present value table inExhibit 5. Round to the nearest whole dollar. $