HW$20$: Problem $4$

$(1$ point$)$

If you want to be paid from a $14$ year ordinary annuity with a guaranteed rate of $6\mathrm{.}875\%$ compounded annually, how much should you pay for one of these annuities if you want to receive annual payments of $$6,000\mathrm{.}00$ over the $14$ year period?

Principal $=$$