Present value of annuity formula = C × [1-(1+i)-n]/i
Case 1)
$31600 = C × [1- 1.09-6]/0.09
$31600 = C × 4.485919
C = $7044.27
Case 2)
$28450 = C × [1-1.07-8]/0.07
$28450 = C × 5.971299
C = $4764.46
Case 3)
$147500 = C × [1-1.12-12]/0.12
$147500 = C × 6.194374
C = $23811.93
Case 4)
$216300 = C × [1-1.11-16]/0.11
$216300 = C × 5.889232
C = $36728.05
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