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Lacey will receive $135,000 a year for 5 years, starting today. If the rate of return is 8.9 percent, what are these payments worth today?A) $568,346.72B) $531,019.80C) $573,323.90D) $564,009.27E) $526468.23

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Answer:

C) $573,323.90

Explanation:

In this question, we use the Present value formula which is shown in the spreadsheet.  Kindly find the attachment below:

NPER represents the time period.  

Given that,  

NPER = 5 years

PMT = $135,000

Rate of interest = 8.9%

The formula is shown below:

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

The PMT value come in negative

So, after solving this, the answer would be $573,323.90

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