Your rich aunt has promised to give you $2,000 per year at the end of each of the next four years to help you pay for college. Using a discount rate of 12%, the present value of the gift can be stated as PV = $2,000 (Annuity FV factor, i = 12%. n = 4). PV = $2,000 (Annuity PV factor, i = 12%, n = 4). PV = $2,000 (PV factor, i = 4%, n = 12). PV = $2,000 times 12% times 4