The amount that has to be invested today to have £68,000 in 22 years at 2.50% pa? Give just the multiplier here.
This is the formula you would use for this purpose:
PV=FV[1 + R]^-N=PV OF $1 IN THE FUTURE. Where R=Interest rate per period, N=number of periods, PV=Present value, FV=Future value.
PV=68,000(1 + .025)^-22
PV=39,498.80
