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Your rich aunt has promised to give you $4,000 per year at the end of each of the next four years to help you pay

Your rich aunt has promised to give you $4,000 per year at the end of each of the next four years to help you pay for college. Using a discount rate of 4%,what is the present value of the gift.

If the JPEG file doesn't open, Appendix A in your book has full Present Value tables.

PV-Tables-Lump-Ann.JPG

$16,000

$14,520

$3,422

$34,000

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