Solved: To answer this question you have to find the present value, Finance Basics

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To answer this question you have to find the present value

Please provide formula and detailed explanation

You have accumulated some money for your retirement. You are going to withdraw $59,758 every year at the beginning of the year for the next 18 years starting from today. How much money have you accumulated for your retirement? Your account pays you 12.28 percent per year, compounded annually. To answer this question, you have to find the present value of these cash flows.

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Finance Basics: To answer this question you have to find the present value

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