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I was injured at work ten years ago. As part of the settlement, my company has...

I was injured at work ten years ago. As part of the settlement, my company has paid me $10,000 each year. The first payment was made ten years ago, and the last payment was made today. As soon as I received each payment, I put it into my bank account. My account pays an EAR of 1%. What amount do I have in my bank account today?

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Answer #1

let me know if you need any clarification..

we have to use financial calculator to solve this problem
Put in calculator
PV 0
PMT -10000
N 10
I 1%
compute FV $104,622.13
therefore amount today = $104,622.13
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