PLEASE CAN YOU SHOW ME STEP BY STEP ON HOW TO DO THIS. I CAN\'T GET THE ASNWER U

Question

PLEASE CAN YOU SHOW ME STEP BY STEP ON HOW TO DO THIS. I CAN'T GET THE ASNWER USING MY FINANICAL CALCULATOR OR THE FORMULA ON TOP OF THE CHART BELOW. I LOOKED WITH SIMILAR EXAMPLES AND DONE IT STEP BY STEP AND I AM OBVIOUSLY DOING SOMETHING WRONG. OMG! HATE FINANCE NOT MY CAREER FOR SURE

Mrs. Crawford will receive $9,000 a year for the next 20 years from her trust. Use Appendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods.

If a 11 percent interest rate is applied, what is the current value of the future payments? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

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Mrs. Crawford will receive $9,000 a year for the next 20 years from her trust. Use Appendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods.

Explanation / Answer

The present value of the future payments of $9000 per year for 20 years = yearly payment * PVIFA(discount int. rate , n) = 9000 * PVIFA( 11%, 20) 9000 * 7.963=71667 (PLEASE CHECK IN THE TABLE UNDER 11% AT 20 YEARS ANNUITY, THE VALUE 7.963)

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