Question: Given below are the present value factors for $1.00 discounted at 10% for one to five periods. Interest is compounded annually at 10%. Periods Present

Given below are the present value factors for $1.00 discounted at 10% for one to five periods. Interest is compounded annually at 10%.

	Periods	Present Value of $1 Discounted at 10% per Period
	1	0.909
	2	0.826
	3	0.751
	4	0.683
	5	0.621

What amount should an individual have in a bank account today before withdrawal if $9000 is needed each year for four years with the first withdrawal to be made today and each subsequent withdrawal at one-year intervals? (The balance in the bank account should be zero after the fourth withdrawal.)

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