Alice wants to know how much she'll have to invest today to receive an annuity of $10,000 for six years if interest is earned at 7% annually. she'll make all of her withdrawals at the end of each year. how much should she invest? a. $45,000 b. $47,665 c. $58,333 d. $55,800

Alice wants to know how much she'll invest today to receive an annuity of $10,000 for six years if interest is earned at 7% annually.

We will use Annuity Payment formula, which states:

where P is the payment,

PV is the present value,

r= rate per period,

n=number of periods.

According to the question,

P = $10,000

r=7%

n=6

We have to find the present value,

Substituting the values in the given formula,

PV= $ 47,665.

So, Alice wants to invest $47,665 today to receive an annuity of $10,000 for six years if interest is earned at 7% annually.

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step-by-step explanation:

40 minutes

step-by-step explanation:

add the time and multiply by 2