Question: I need help with these two problems. I can not get the formula to get the correct answer. What is the present value of the

I need help with these two problems. I can not get the formula to get the correct answer.

formula to get the correct answer. What is the present value of

What is the present value of the following cash-flow stream if the interest rate is 4%? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Year Cash Flow $270 WNP 470 370 Present valueA couple will retire in 40 years; they plan to spend about $21000 a year in retirement, which should last about 20 years. They believe that they can earn 7% interest on retirement savings. a. If they make annual payments into a savings plan, how much will they need to save each year? Assume the rst payment comes in 1 year. [Do not round intermediate calculations. Round your answer to 2 decimal places.) b. How would the answer to part {a} change if the couple also realize that in '15 years they will need to spend $571000 on their child's college education? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Armual savings

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