Question: Please help me solve the following question - which formula do I use? Question 3 Avery Tag makes an investment today (January 1, 2017). Avery

Please help me solve the following question - which formula do I use?

Question 3 Avery Tag makes an investment today (January 1, 2017). Avery will receive $40,000 every December 31st for the next six years (2017 2022). If Avery wants to earn 12% on her investment, what is the most she should invest on January 1, 2017? Time periods Factor PV Annuity due PV Annuity due PV Ordinary annuity PV Ordinary annuity 4.03735 4.60478 3.60478 4.11141 6 $184,191. $161,494. $164,456 $144,191

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