Dear sir or madam,
Sorry to bother you at this time.
I am confused about this question. Could you please tell me how to solve it?
Thanks for your great help and wish to hearing from you soon.
You will receive annual payments of £4,000 at the end of each year for ten years. The first payment will be received in year 3. What is the present value of these payments if the discount rate is 9 percent?
d. £25,670.63 Incorrect. The correct answer is: £21,606.46