Solving Equation 4.16 using Google Example problem: Compute the present value of annual cash payments of $50, paid for 5 years, using discount rate of 6% interest rate, (compounded). Show all steps of the calculations in your post. Annual Payments: $50 Discount rate (r): 6% Number of years (N): 5 years Equation 4.16: PV0 = CF,/ (1 + r) + CF2/(1+r) + CF3 / (1+r) + ... + CF. / (1+r)" The example problem looks like this: PV = $50 / (1+0.06) + $50/ (1 +0.06)2 + $50/(1+0.06) + $50/(1+0.06)* + $50/ (1 +0.06) PVo = $50/(1.06) + $50/(1.06)2 + $50/(1.06) + $50/(1.06)* + $50/(1.06) r2 STEP 1: In Google, first solve the portions of the equation (1+r) with the exponents: In the Google search bar, type 1.06^2 and press enter, to compute the value of (1.06) 1.1236 = 1.12 . E Continue using Google to solve each exponential expression: In the Google search bar, type 1.0643 and press enter to compute the value of (1.06) = 1.19 In the Google search bar, type 1.06^4 and press enter, to compute the value of (1.06) = 1.26 In the Google search bar, type 1.0645 and press enter, to compute the value of (1.06) = 1.34