Answer:
$175,590
Explanation:
Data provided in the question
Per year amount = $25,000
Present value annuity factor for 10 years at 7% = 7.0236
So by considering the above information
Paying amount for the investment
= Per year amount × Present value annuity factor for 10 years at 7%
= $25,000 × 7.0236
= $175,590
We simply multiplied the amount per year with the present value annuity factor so that the correct amount could arrive
