Your parents are giving you $100 a month for four years ...
Your parents are giving you $100 a month for four years while you are in college. At a 6% discount rate, what are these payments worth to you when you first start college?
The $100 represent an annuity, with 12 × 4 = 48 periods, and the Discount Rate = 6% / 12 = 0.5%
To calculate the PV of the annuity:
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= [pic]
= $4,258.03
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