Amount of annuity expected 15000
quarterly
4 years
8%
present value

203,665.63

Step-by-step explanation:

Given:

Amount of annuity expected = 15000

Period = 4 years

Rate = 8%

for quarterly, rate, r = 0.08 / 4 = 0.02

total quarters in 4 years, n = 4 × 4 = 16

Now,

The present value is given as:

on substituting the respective values, we get

or

Present value = 203,665.63

since both sides equal, there are infinitely many olutions.