what is the present value of that stream of payments?
Megan's Aunt Karroll told her that she would give Megan $1,100 at the end of each year for the next three years to help with her college expenses. Assuming an annual interest rate of 5 percent, what is the present value of that stream of payments? (Hint: Use Appendix A.4 or the Garman/Forgue companion website.) Round Present value of Series of Equal Amounts in intermediate calculations to four decimal places.