Computing present worth of future payments

Reference no: EM1328414

Your parents are giving you $500 a month for five years while you attend college to earn both a bachelor's and a master's degree. At a 7 percent discount rate, what are these payments worth to you when you first enter college?

Please

1) Solve by hand (please show formula) and

2) Provide financial calculator inputs and check answer.

Reference no: EM1328414

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