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left you a trust that will pay you $26,000 per year for the next 21 years with the first payment received one year from today. If the appropriate interest rate is 5.9 percent, what is the value of the payments today?

Respuesta :

Answer:

$308,455.22

Explanation:

For this question, we use the Present value function that is shown in the attachment. Kindly find it below:

Given that,  

Future value = $0

Rate of interest = 5.9%

NPER = 21 years

PMT = $26,000

The formula is shown below:

= -PV(Rate;NPER;PMT;FV;type)

So, after solving this, the payment for today is $308,455.22

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