I need help solving this using excel formula.

TRUCK A
		PERIOD	PMT	FV	PV	INTEREST
		12	1500	7000		6%
Anually
Solve
PV=	($9,096.98)

I think what I have is wrong. Help please!

P7-2. Present Value, Present Value of an Ordinary Annuity, Analysis of Alternatives. Boyne Painting Contrac- tors needs to purchase a new truck. The owner is considering two different truck models that are currently on the market. Boyne's two alternatives are presented here: Truck A: Boyne can purchase Truck A for $45,000. The truck has a useful life of 12 years and will require annual maintenance costs of $1,500 each year. Boyne expects to sell the truck for $7,000 after 12 years. Truck B: Boyne can purchase Truck B for $40,000. This truck also has a useful life of 12 years but will have no scrap value. It will require maintenance costs every four years as follows: Year 4: Year 8: $3,000 $6,000 $8,000 Year 12: Which truck should Boyne purchase given an interest rate of 6% compounded annually? Assume that main- tenance costs will be paid at year-end