Answer:
C = $ 5064.61
Explanation:
You are given the present value of an annuity PV = 81 000
5.1 % is .051 in decimal form
quarterly, this is i = .051/4 interest per period (3 months)
4 1/2 years is n = 18 periods
The equation to use is ( you just have to look these up.....there are many different situations)
PV = C * { (1-(1+i)^-n) / i }
Plugging in the above numbers results in:
C = $ 5064.61
