When I asked my financial calculator to compute the Present Value with the following information

interest = 3%

number of payments = 10

payment = -4000

future value = 0

it told me the present value is

The interest period is the same as the payment period, so we can consider each period to be 6 months. The interest earned in that period is 3%.

interest = 3%

number of payments = 10

payment = -4000

future value = 0

it told me the present value is

**$34,120.81**.The interest period is the same as the payment period, so we can consider each period to be 6 months. The interest earned in that period is 3%.