You are offered the opportunity to put some money away for retirement. You will receive five annual payments of $$20,000$ each

beginning at $40$ years.

How much would you be willing to invest today if you desire an interest rate of $11\%?$

$$1,842\mathrm{.}66$

$$1,318\mathrm{.}47$

$$1,262\mathrm{.}27$

$$2,270\mathrm{.}23$

$$2,257\mathrm{.}62$