i keep getting something diffrent for the part they got .31538

You are looking to purchase an annuity that will pay $30,000 per year. The contract specifies the annual payment will increase by 2% each year for 30 years, based on market returns. If the discount rate is 6%, how much should you pay for this annuity? (round to nearest whole number) Select one: $513,465 $412,950 $627,960 $750,000 Your answer is correct. PV = [C/ (r - g)] * {1 - [(1+g) / (1+r)']} PV = [30000/(.06).02)] * {1 - [(1+.02) / (1 +.06)30]} PV = 750000 * (1 - .31538) PV = 513465 The correct answer is: $513,465