Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.

# You would like to receive an equivalent of $10,000 in today's dollars at the start of the year for the next five years.

You would like to receive an equivalent of $10,000 in today's dollars at the start of the year for the next five years. Assuming that inflation will average 3% over during that time and you can earn 5% on your investment. How much will you need to invest today in order to receive these five annual payments, adjusted for inflation?