Answer:
$24,681.41
Explanation:
In this question, we use the present value formula which is shown in the spreadsheet.
The NPER reflected the time period.
Provided that,
Future value = $50,000
Rate of interest = 4%
NPER = 18 years
The formula is presented below:
= -PV(Rate;NPER;PMT;FV;type)
So, after solving this, the answer would be $24,681.41
