jim8z3

I thought FV=60K as client wants to have 60K starting from year 60 till 85. We need to calculate PV at t=59.
I tried this way :
FV=60000, interest=0.04, t=25 years. So at 59th year we can assume ordinary annuity for 25 yrs.
PV(at t=59)=FV*[(1(1+r)^t)/r]= 60000*[(1(1.04)^25)/0.04]=937324.80
Is it wrong?