A. How much must be invested on January 1,2013 to receive $10,000 for ten years if the first payment is to be taken on January 1, 2023? Assume annual I/R of 6%.

-show keystrokes used in the form of (N=,I/Y=,PV=,PMT=,FV=)

The question is not clearly, I assume that the money put into the account annualy, then we have

present values of current $1 investment for 10 years is 8.89, after 10 years it is 8.89/1.06^10 = 4.96

after 10 years, FV of $1 investment = FV(N=10, I=6%, PV=0, 1) =13.97

so the payment is 4.96/13.97*10000= $3553.42

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