An investment will pay you $18,000 one year from now, $12,000 two years from today and $6,000 four years from today.
Your other option is to receive equal monthly payments for the next 60 months with the payments starting one month from today.
Assuming an opportunity cost of 12% (monthly), what amount would the payments have to be to make the alternatives equivalent?
Please break the problem down using the calculator. (N,I,FV,PV,PMT, ect) Our professor doesn't allow us to use the charts in the textbook.