Using Technological Tools: Present Value of an Annuity $-$ Knowledge Check

Knowledge Check

You need cash of $$5,000$ to be received each year for $4$ years beginning one year from now to attend college. Your discount rate is $8\%$ compounded annually. Indicate the inputs to be entered into the financial calculator keys. What is the present value of the amounts to be received? $($Round present value answer to two decimal places $($e$.$g$.,52\mathrm{.}75).)$

Inputs

Calculator Keys

Calculator Keys

N

N

$1$

PV

PMT

FV

Present value $

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